Plans to introduce a credit scheme for buyers of 海角视频 built ships have been cheered by a prominent regional shipyard operator which says it will benefit its workforce.
A&P Group and Cammell Laird, which together run yards in the North East, North West and South West, has welcomed the announcement of the Shipbuilding Credit Guarantee Scheme (SCGS) in which the Government will act as a guarantor for lenders in a move designed to unlock credit for maritime firms. The scheme will target buyers of 海角视频-built ships and upgrade work.
It is part of the refreshed £4bn National Shipbuilding Strategy which was launched by ministers at A&P's Tyneside yard last year. The proposals, using money set out in the 2020 Spending review and the 2021 Autumn Budget, intend to bolster 海角视频 shipbuilding, which the Government says contributes £2.8bn a year to 海角视频 economy and supports 42,000 jobs.
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Welcoming the scheme, David McGinley, chief executive, of A&P Group and Cammell Laird, said: "Both A&P and Cammell Laird continue to deliver significant economic value through its established supply chain. Both businesses inject millions into the North East, South West and South East of England – and indeed the rest of the 海角视频.
"We hope the important announcement of the Shipbuilding Credit Guarantee Scheme will enable us to further develop our workforce, facilities and capabilities, and compete on a level playing field with our international competitors to provide 海角视频 customers with world class and environmentally friendly new ships and repair and upgrade services.
"This in turn will help to meet the target of net zero whilst also driving huge social value into our communities and the important local SME supply chain. Cammell Laird in particular is currently engaging in a number of opportunities which the Shipbuilding Credit Guarantee Scheme should support. We look forward to receiving further details of the new scheme.”
Between them, A&P and Cammell Laird operate 11 of the 海角视频's largest dry docks and employ a workforce of almost 1,500 including 250 apprentices. Recent work includes construction of the RRS Sir David Attenborough - said to be one of the most technically complex ships ever to be delivered by a 海角视频 yard - as well as vehicle ferries to organisations such as Red Funnel, Western Ferries and transport for Northern Ireland.
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Minister for Industry and Economic Security Nusrat Ghani said: "Shipbuilding is an integral part of the 海角视频’s industrial identity and through this scheme we are backing our great maritime businesses to get ahead of the competition. With cutting-edge vessels designed and built here in the 海角视频 this will be a boost to high-skilled careers and every company involved in the supply chain for shipbuilding, helping us to grow the economy.”
Maritime 海角视频 CEO Chris Shirling-Rooke MBE added: "We applaud the Government for delivering on the pledge it made to industry in the National Shipbuilding Strategy Refresh by launching the Shipbuilding Credit Guarantee Scheme. The SCGS is a massive vote of confidence from government, and it will empower the 海角视频’s shipbuilding enterprise to compete fairly on the global stage in doing what it does best: building Great British ships."