Significant joint government funding is being committed to a project that will help to secure hundreds of green jobs in Wales.
Thanks to £1 billion of investment from the UK Government and the Welsh Government, the redevelopment of a mill in Deeside, Wales will help to safeguard 147 jobs, whilst also creating an additional 220 when fully commissioned. As the project will see Shotton Mill becoming the UK’s largest recycled paper manufacturer, these jobs will support the nation’s transition to net zero, whilst helping to create more jobs in green industries.
This funding comes ahead of next month’s Investment Summit, which will emphasise that the UK is open for business as it looks to rebuild relations with trading partners around the world, positioning the nation as one that supports the innovation and high-quality jobs that will help to deliver growth.
Jonathan Reynolds, Secretary of State for Business and Trade, said:
“This is a massive vote of confidence in the Welsh economy and this government’s plans to make Britain the destination of choice for investments in the industries of tomorrow. This transformative investment will not only support local skilled jobs but raise living standards in the community.
“The deal being announced today is testament to what can be achieved when the Welsh and UK governments work hand in hand.
“We’re also proud to celebrate National Manufacturing Day, where we recognise the tremendous innovations taking place right across the sector, not least here in Shotton Mill.”
UK Export Finance, the government’s export credit agency, will provide £136 million of support, whilst almost £13 million of the investment will be contributed by the Welsh Government.
Welsh Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, also commented:
“This is excellent news for Deeside and the wider Welsh economy and is a prime example of how, through our commitment to a prosperous, green economy we are able to attract investment, and create good, sustainable jobs whilst reducing waste.
“Once fully operational, instead of transporting paper waste many hundreds or thousands of miles overseas to be processed it will be turned into recycled packaging here in Wales. This, alongside the nature of the technology, means a net reduction in carbon emissions equivalent to emissions from 190,000 homes a year.
“Our £13million support will help ensure this is delivered whilst safeguarding and creating local jobs and ensuring that the community is at the heart of the business’ success for many years to come.”
Image credit: iStock
