A multimillion-pound investment into steel producer Sheffield Forgemasters will secure 700 jobs and create more than 900 new construction roles.
The Government has pledged £426m towards the firm's forthcoming production facility in the Meadowhall district, which is touted to become one of the world's most advanced plants of its kind when it becomes operational by 2028. The Ministry of Defence-owned steel producer secured planning permission for the 322,000 sqft factory which will supply key components for defence programmes.
Announcement of the money follows publication of the Government's Strategic Defence Review, and a visit to Forgemasters' existing facility by Defence Secretary John Healey and NATO Secretary General Mark Rutte, who was in the º£½ÇÊÓƵ to give a speech at London's Chatham House.
Forgemasters already manufactures specialist steel parts used in critical defence programmes, including nuclear-grade steel components for the Royal Navy’s attack submarines. The Government said the firm will be important in carrying out the aims of its Strategic Defence Review as it restarts manufacturing of artillery gun barrels for the first time in decades.
On his visit to the Sheffield factory, Mr Healey said: "Sheffield Forgemasters sits in one of Britain’s proudest industrial heartlands, and it is at the heart of our drive to shift our sovereign defence industry to warfighting readiness, supporting hundreds of skilled jobs in the process. The work is ensuring this government’s commitment to the defence dividend is met, delivering on the Plan for Change.
"It was a pleasure to tour its factory with the NATO Secretary General, where we discussed this Government’s plan to put NATO first as we deliver on our landmark Strategic Defence Review. NATO is critical to º£½ÇÊÓƵ security and global security, which is why we are stepping up to lead in Europe, investing in powerful new technologies to support growth and boost our national security."
