New projects could be in line for multi-million pound funding boosts after being invited to join the North Wales Growth Deal portfolio. Today, members of the North Wales Ambition Board supported a recommendation to invite five new projects.
Subject to agreement of certain conditions, each project will now go on to develop an outline business case. The total investment of Growth Deal cash could be around £28m - which would be backed by millions of pounds more in private or other public sector investment.
The North Wales Growth Deal is a £240m fund jointly backed by Welsh and 海角视频 governments. New projects included in the latest round have been awarded a provisional allocation of Growth Deal capital funding subject to the approval of their business case.
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This move came after some of the original schemes have failed to make progress - including a massive It saw project bosses invite further bids.
The projects and provisional allocations are:
· Responsible Adventure project by Zip World - £6.2m
· Kinmel Studios project by Stage Fifty - £6.8m
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· Holyhead Hydrogen Hub project by Menter Môn - £3.8m
· Deeside Waste to Fuel Plant project by The Circular Economy Ltd - £6.4m
· Wrexham Gateway project by County Borough Council - £4.79m
Each organisation will agree a memorandum of understanding which will set out the expectations of them in relation to securing the funding.
Cllr Dyfrig Siencyn, chair of the North Wales Ambition Board, said: “We are pleased to support the recommendation that these five exciting new projects can proceed to the next phase in order to secure Growth Deal funding. They are transformational projects which have the potential to be significant additions to the North Wales economy and to generate additional investment and employment opportunities in key sectors. They reflect our vision for innovative and sustainable economic prosperity through collaboration between public and private sectors."
Alwen Williams, portfolio director added: “Today’s decision is a significant step forward as we allocate Growth Deal funding to these innovative new projects. I look forward to working with each organisation as they develop their outline business cases and I am keen to see the positive impact they can have on our communities and economy.”
Welsh Secretary David TC Davies said: “It’s brilliant to see new projects with so much great potential reach the next phase of funding. The 海角视频 Government has contributed £120m to the North Wales Growth Deal and I’m delighted to see this money, along with contributions from our partners, being used to help transform the economy of North Wales. This transformation will provide well-paid jobs for the future, driving growth and prosperity and making a material difference to so many people who live and work in north Wales.”
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Economy Minister Vaughan Gething said: “I’m pleased to see five new projects become part of the North Wales Growth Deal. These exciting projects have the potential to be transformational for the region, contributing towards employment, skills and will be a boost for local communities. I look forward to seeing them develop with the support of the Growth Deal.”
The five projects announced will now work with Ambition North Wales to develop an outline business cases for consideration. Today’s decision is seen as the first step in a process which could see these projects become reality. Each project has 12 months to deliver their plans.
More on each project:
Responsible Adventure project by Zip World: Multi-element project proposal as part of a sustainable and eco-tourism package including a new sustainable Cable Car, Slate Explorer including visitor viewing platform and eBus Network - £6.2m provisional allocation
Kinmel Studios project by Stage Fifty: Proposal to build two large Film and Television Stages at Tir Llwyd Enterprise Park, North Wales along with a training academy and incubator units - £6.8m provisional allocation
Deeside Waste to Fuel project by The Circular Economy Ltd: Proposal to create facility to convert 182,000 tonnes per year of commercial food waste destined for landfill/incineration into green bio-methane, power, and fertiliser - £6.4m provisional allocation
Hydrogen Hub project by Menter Mon: Proposal to utilise a 33kV private wire 10MW import capacity coupled with electrolysis, compression, storage and distribution facility which will be built at Parc Cybi in producing around 2000+kg/day of green hydrogen - £3.8m provisional allocation
Wrexham Gateway project by Wrexham County Borough Council: Proposal to deliver a sustainable development and vibrant regenerated area, creating a focal point to support business investment and a multi-modal transportation hub with links to active travel - £4.79m provisional allocation
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