Major milestone as £18.4 million seed capital investment is approved
The Celtic Freeport has reached a major delivery milestone with approval of £18.4 million in seed capital funding for four projects across Neath Port Talbot and Pembrokeshire.
The investment will support new infrastructure, unlock development and help attract further private-sector investment across the Freeport.
The approved projects are:
- Associated British Ports, Talbot Wharf, Port Talbot: £5 million towards a scheme to unlock 9.1 hectares for the floating offshore wind supply chain.
- Neath Port Talbot Council Harbourside, Port Talbot: £4.2 million towards an £8.4 million scheme to deliver six business units at the Waterside Innovation Park.
- Port of Milford Haven, Criterion Quay, Pembroke Port: £7.2 million towards the first phase of a development that will restore marine infrastructure, provide additional berthing and create 1.7 hectares of laydown space for floating offshore wind.
- Ledwood Quayside Upgrade, Pembroke Dock: £2 million to improve marine access and support floating offshore wind component fabrication and handling.
Chris Martin, Chair of the Celtic Freeport, said:
“Approval of this seed capital funding marks a major step forward for Celtic Freeport. These four projects will deliver the infrastructure needed to unlock investment, support high-quality jobs and accelerate economic growth across south west Wales.
“We are now moving from planning into delivery, working with our partners to turn the Freeport’s ambitions into tangible benefits for businesses and communities.”
The Secretary of State for Wales, Stephen Kinnock said:
“This is a significant moment for the development of the Celtic Freeport which will cement south west Wales as a hub of the industries of the future.
“The UK Government’s investment in Wales’s two freeports will deliver thousands of new jobs, drive opportunity and generate economic growth into the future.”
Welsh Government Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price said:
“Economic growth depends on having the right infrastructure in the right places. These projects will help unlock sites for investment, support the development of new industries and strengthen Wales’s position in the growing clean energy economy.
“Closing Wales’s productivity gap with the rest of the UK will require exactly this kind of targeted investment, helping to attract private capital, create skilled jobs and deliver long-term benefits for communities across Port Talbot and Pembrokeshire.
“Today’s approval marks the move from ambition to delivery, and I look forward to seeing these projects helping to drive growth across the Celtic Freeport.”
The seed capital funding is being provided by the UK Government through the Freeport Programme in Wales.
The funding awards remain subject to the agreement of grant conditions and completion of the necessary funding arrangements, including monitoring, assurance and clawback provisions.
Download the Press Release here
ENDS
Notes to Editors
- The Celtic Freeport is a public-private sector partnership led by Associated British Ports, Neath Port Talbot Council, Pembrokeshire County Council and the Port of Milford Haven. It also includes renewables developers, energy companies, industrial complexes, innovation assets, academic institutions and education providers.
- The Freeport provides the backbone for a cleaner future based on floating offshore wind, the hydrogen economy, sustainable fuels, carbon capture and storage, cleaner steel and low-carbon logistics. The Celtic Freeport is expected to attract £8.4 billion of investment and create 11,500 new jobs.
