Latest news with #NorthWalesGrowthDeal
North Wales Live
28-05-2025
- Business
- North Wales Live
Hotel development, tourism attraction and port plan are all chasing £51m cash pot for North Wales
A hotel plan, tourism development, and port revamp are part of a 20 strong group of schemes chasing £51m. Ambition North Wales has announced a strong pipeline of new projects, which are being given the opportunity to bid for part of un-allocated Growth Deal funding in the future. The move aims to accelerate regional growth through the delivery of sustainable economic projects across North Wales, which will generate jobs and align with environmental commitments. Each potential new project, 16 confirmed - with a 17th subject to confirmation on scope, has been placed on a Reserve List (full list below). The projects must now produce Business Cases in order to secure part of the funding – which will be considered in terms of their impact for the region and how quickly they can move into delivery. The Reserve List has been drawn up following a review of its own Growth Deal projects by Ambition North Wales – freeing up an initial £51m of funding, and a subsequent expression of interest process. Ambition North Wales partners, Welsh Government and UK Government were invited to put forward their priority public and private sector proposals for consideration. The funding released by Ambition North Wales, following its portfolio review, was possible given its decision to withdraw two of its Growth Deal projects altogether, while moving three on to the new Reserve List - bringing the total number of schemes on the list to 20. Cllr Mark Pritchard, Chair, Ambition North Wales: 'Our name says it all – we have great ambitions for North Wales and we want to deliver faster and smarter for the region. This new Reserve List contains projects with the potential to do just that – as they should be in a position to produce Business Cases over the coming 12-18 months with a view to moving swiftly into delivery, should approval be given. The result will improve the pace of delivery of sustainable economic growth across the region.' The North Wales Growth Deal is a £240m cash pot backed by joint funding from Welsh and UK governments aimed at driving economic growth. The Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 'We welcome the work undertaken by Ambition North Wales to review existing projects and identify a pipeline of potential new proposals. This provides an opportunity to take stock of progress to date and unlock new opportunities, maximising the potential to invest in transformational developments that can swiftly deliver sustainable growth and jobs across the region. We look forward to seeing this work progress over the coming months.' Wales Office Minister Dame Nia Griffith said: 'It's great to see a strong reserve list of projects come forward for investment. 'The purpose of UK Government's funding of Ambition North Wales is to deliver economic growth to the region and create well-paid jobs that will put more money in people's pockets. It's important that successful projects help us to deliver on that commitment.' Full list of projects: Adventure Parc Snowdonia Deliver a significant new visitor experience on the site of the former Adventure Parc Snowdonia facility. Albert Gubay Business School Construction of the Albert Gubay Business School at Bangor University. Bangor Health Hub To develop an integrated Health and Wellbeing Hub in a vacant former shopping centre in the heart of Bangor city centre. Business Gateway Serving as a bridge between Wrexham University and local industry, fostering collaboration, innovation, job creation and inclusive economic growth. Innovation and Growth Fund To support North Wales businesses in agri-food, tourism, and high-value manufacturing to boost innovation, adopt new tech, and grow regional competitiveness. Kinmel Studios A project to support the film industry in North Wales. NEW-H2 This project will help kick-start the hydrogen economy in North Wales by supporting and delivering a hydrogen hub to include the supply and use of hydrogen. North Anglesey Sites and Premises Delivering 2,200sqm of business space in North Anglesey creating at least 59 jobs, and leveraging the Freeport and low-carbon energy growth. Parc Bryn Cegin - Phase 2 The delivery of a further 20,000 sq ft of employment units at Parc Bryn Cegin. Peboc Gateway Sites Unlocking 6,750sqm of business space in Llangefni, creating at least 186 jobs and maximising benefits of the Anglesey Freeport. Port of Mostyn Upgrading berth and regeneration of former industrial site. Project Prince Construction of 110kt rock mineral wool plant with submerged arc furnace (SAF), primarily to serve the UK and Ireland markets. Property Fund A Commercial Property Development Grant to close viability gaps for private sector developers of industrial and office property, with funding also available for similar public sector developments on a Joint Venture Agreement basis. Quarry Battery A £300m Pumped Storage Hydro / BESS Hybrid scheme in North Wales. Queens Market Hotel Development Provision of mid-range, mid size hotel - a key part of a wider masterplan that is currently being developed for the area. Society 5.0 - Manufacturing and Capability Project Enhance the Enterprise Engineering and Optics Centre to enable industry to access further world- class high precision engineering resources. St Asaph Business Park - Move on Accommodation Development of high-tech industrial units on St Asaph Business Park. Trawsfynydd A scheme which will include a building to include office spaces, laboratory spaces (exact specification to be confirmed) and ancillary facilities (meeting space, café/canteen etc), to support the nuclear and low carbon energy industry together with the scientific community, located on Trawsfynydd Site. Venue Cymru A project that will expand facilities at Venue Cymru, boost jobs, cut carbon, and attract major shows, conferences, and cultural investment.
Wales Online
28-05-2025
- Business
- Wales Online
Hotel development, tourism attraction and port plan are all chasing £51m cash pot for North Wales
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A hotel plan, tourism development, and port revamp are part of a 20 strong group of schemes chasing £51m. Ambition North Wales has announced a strong pipeline of new projects, which are being given the opportunity to bid for part of un-allocated Growth Deal funding in the future. The move aims to accelerate regional growth through the delivery of sustainable economic projects across North Wales, which will generate jobs and align with environmental commitments. Each potential new project, 16 confirmed - with a 17th subject to confirmation on scope, has been placed on a Reserve List (full list below). The projects must now produce Business Cases in order to secure part of the funding – which will be considered in terms of their impact for the region and how quickly they can move into delivery. The Reserve List has been drawn up following a review of its own Growth Deal projects by Ambition North Wales – freeing up an initial £51m of funding, and a subsequent expression of interest process. Ambition North Wales partners, Welsh Government and UK Government were invited to put forward their priority public and private sector proposals for consideration. The funding released by Ambition North Wales, following its portfolio review, was possible given its decision to withdraw two of its Growth Deal projects altogether, while moving three on to the new Reserve List - bringing the total number of schemes on the list to 20. Cllr Mark Pritchard, Chair, Ambition North Wales: 'Our name says it all – we have great ambitions for North Wales and we want to deliver faster and smarter for the region. This new Reserve List contains projects with the potential to do just that – as they should be in a position to produce Business Cases over the coming 12-18 months with a view to moving swiftly into delivery, should approval be given. The result will improve the pace of delivery of sustainable economic growth across the region.' The North Wales Growth Deal is a £240m cash pot backed by joint funding from Welsh and UK governments aimed at driving economic growth. The Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 'We welcome the work undertaken by Ambition North Wales to review existing projects and identify a pipeline of potential new proposals. This provides an opportunity to take stock of progress to date and unlock new opportunities, maximising the potential to invest in transformational developments that can swiftly deliver sustainable growth and jobs across the region. We look forward to seeing this work progress over the coming months.' Wales Office Minister Dame Nia Griffith said: 'It's great to see a strong reserve list of projects come forward for investment. 'The purpose of UK Government's funding of Ambition North Wales is to deliver economic growth to the region and create well-paid jobs that will put more money in people's pockets. It's important that successful projects help us to deliver on that commitment.' Full list of projects: Adventure Parc Snowdonia Deliver a significant new visitor experience on the site of the former Adventure Parc Snowdonia facility. Albert Gubay Business School Construction of the Albert Gubay Business School at Bangor University. Bangor Health Hub To develop an integrated Health and Wellbeing Hub in a vacant former shopping centre in the heart of Bangor city centre. Business Gateway Serving as a bridge between Wrexham University and local industry, fostering collaboration, innovation, job creation and inclusive economic growth. Innovation and Growth Fund To support North Wales businesses in agri-food, tourism, and high-value manufacturing to boost innovation, adopt new tech, and grow regional competitiveness. Kinmel Studios A project to support the film industry in North Wales. NEW-H2 This project will help kick-start the hydrogen economy in North Wales by supporting and delivering a hydrogen hub to include the supply and use of hydrogen. North Anglesey Sites and Premises Delivering 2,200sqm of business space in North Anglesey creating at least 59 jobs, and leveraging the Freeport and low-carbon energy growth. Parc Bryn Cegin - Phase 2 The delivery of a further 20,000 sq ft of employment units at Parc Bryn Cegin. Peboc Gateway Sites Unlocking 6,750sqm of business space in Llangefni, creating at least 186 jobs and maximising benefits of the Anglesey Freeport. Port of Mostyn Upgrading berth and regeneration of former industrial site. Project Prince Construction of 110kt rock mineral wool plant with submerged arc furnace (SAF), primarily to serve the UK and Ireland markets. Property Fund A Commercial Property Development Grant to close viability gaps for private sector developers of industrial and office property, with funding also available for similar public sector developments on a Joint Venture Agreement basis. Quarry Battery A £300m Pumped Storage Hydro / BESS Hybrid scheme in North Wales. Queens Market Hotel Development Provision of mid-range, mid size hotel - a key part of a wider masterplan that is currently being developed for the area. Society 5.0 - Manufacturing and Capability Project Enhance the Enterprise Engineering and Optics Centre to enable industry to access further world- class high precision engineering resources. St Asaph Business Park - Move on Accommodation Development of high-tech industrial units on St Asaph Business Park. Trawsfynydd A scheme which will include a building to include office spaces, laboratory spaces (exact specification to be confirmed) and ancillary facilities (meeting space, café/canteen etc), to support the nuclear and low carbon energy industry together with the scientific community, located on Trawsfynydd Site. Venue Cymru A project that will expand facilities at Venue Cymru, boost jobs, cut carbon, and attract major shows, conferences, and cultural investment. Wrexham Gateway To address viability and support delivery of the evolving Wrexham Gateway project.
Yahoo
20-05-2025
- Business
- Yahoo
Knauf Insulation to invest $225.7m in new manufacturing facility in North Wales
Manufacturer Knauf Insulation has announced a £170m ($225.7m) investment for constructing a new manufacturing facility in Shotton, North Wales, UK. The plant will produce over 100,000 tonnes (t) of noncombustible rock mineral wool insulation annually, with additional employment opportunities in local supply chains. This development is expected to create around 140 direct jobs. The investment aligns with ongoing discussions at the UK-EU summit focused on economic growth and is supported by the UK and Welsh governments, as well as local leadership. The North Wales Growth Deal and the Flintshire and Wrexham Investment Zone have been instrumental in securing Knauf Insulation's commitment to the region. Knauf Insulation's expansion in North Wales will enhance the advanced manufacturing cluster in the area. The Shotton facility will be constructed on land bought from Tata Steel's Deeside operations, about two miles from the Queensferry facility of Knauf. Subject to planning and environmental clearances, construction of the Shotton facility is expected to commence in 2026, with production aimed for late 2027. UK Secretary of State for Wales Jo Stevens said: 'This £170m investment by Knauf Insulation is fantastic news for North Wales and our UK government mission to drive economic growth. 'This is a vote of confidence in the Welsh economy and our government's plan to make Britain the destination of choice for investment in industry.' Knauf Insulation Northern Europe managing director Neil Hargreaves said: 'Knauf Group has a proud history of manufacturing in Wales and this project aligns with the Welsh and UK government's commitment to sustainability and the industrial vision for North Wales and Deeside. 'Using UK-first Submerged Arc Furnace technology, the new factory will produce noncombustible, low embodied carbon, recyclable rock mineral wool insulation to support the need for safer, more energy-efficient and sustainable buildings.' Knauf Insulation provides a range of insulation solutions for all applications in commercial and residential buildings. In the broader context, the UK's Labour government committed to making decisions on at least 150 infrastructure projects and building 1.5 million homes as part of its 'Plan for Change' initiative last December. "Knauf Insulation to invest $225.7m in new manufacturing facility in North Wales" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
North Wales Chronicle
10-05-2025
- Business
- North Wales Chronicle
Morlais scheme highlights expansion at national conference
Ambition North Wales welcomed the recognition given to its Cydnerth project at the Marine Energy Wales conference. The project is an investment in the Morlais tidal energy scheme, which is run by social enterprise Menter Môn. It forms part of the North Wales Growth Deal and aims to support the expansion of Morlais, which is located off the northwest coast of Ynys Cybi (Holy Island), Anglesey. (Image: Supplied) The project will deliver benefits such as driving economic growth, creating high-quality jobs, and ensuring North Wales is a key player in the future of tidal energy and the generation of clean electricity. The First Minister, Eluned Morgan, said: "I'm pleased to announce that Ambition North Wales and Menter Môn Morlais have agreed funding terms in principle for the Cydnerth project. "This £8.9 million investment through the North Wales Growth Deal, which is funded by the Welsh and UK Governments, will futureproof Morlais. "The North Wales Growth Deal investment will now enable the scheme's 18 megawatts grid capacity to increase over time to 240 megawatts." The Secretary of State for Wales, Jo Stevens, also backed the project saying: "The UK Government is supportive of the Morlais project, which promises to harness tidal energy and generate high-quality jobs in our coastal communities. "As part of our clean energy mission, we have increased the tidal stream ringfenced budget by 50 per cent which will maximise the opportunities for tidal energy in North Wales and drive economic growth." (Image: Supplied) Councillor Mark Pritchard, chair of Ambition North Wales and leader of Wrexham County Borough Council, said: "The significance of Cydnerth can't be understated. "As the largest consented tidal scheme in Europe, the positive impact and benefits it will bring are substantial, and it will cement our region's place as a leader in tidal energy." Councillor Gary Pritchard, lead member for Ambition North Wales' Low Carbon Energy Programme and leader of Isle of Anglesey County Council, said: "Cydnerth is very positive news for the marine energy sector in Wales and reinforces our region's commitment to a sustainable future – creating the right kind of jobs alongside environmental benefits." Dafydd Gruffydd, managing director of Menter Môn, said: "We are grateful to Ambition North Wales for their investment and continued support through the Cydnerth project. "Through this support from the North Wales Growth Deal we can now take the next step in expanding the Morlais tidal energy scheme, bringing benefits to our communities, creating local jobs, local supply chain opportunities and contributing to the region's sustainable growth."
