Two new freeports in Wales have been given the go ahead by ministers.
The sites, one in Anglesey and one spread across Milford Haven and Port Talbot, will be backed by £26m of government funding and are expected to bring forward almost £5bn in private and public investment.
Announcing the deal, prime minister Rishi Sunak said: “Today’s new freeports will see businesses and opportunities for people in and around Anglesey, Port Talbot and Milford Haven go from strength to strength.”
Conygar, the developer which owns a 203-acre brownfield site in the Anglesey Freeport zone at Rhosgoch, welcomed the news.
Conygar director Freddie Jones said: “We are delighted that the Anglesey Freeport bid has been successful and believe it will be transformational for the island and a significant boost for the economy going forward.”
The developer also owns the Holyhead Waterfront development, which it anticipates will also benefit from the new designation, despite falling outside the zone.
Companies within the zone will benefit from tax and duty relief and simplified customs processes.
Anglesey Freeport aims to attract £1.4bn of investment in the green energy sector and create at least 3,500 jobs, generating £500m in additional GVA by 2030. The freeport, which will have a focus on marine energy technology and low-carbon energy, will embark on a variety of infrastructure programmes, including the Holyhead port redevelopment and the restoration of the railhead and track.
Celtic Freeport, in Milford Haven and Port Talbot, aims to attract inward investment including £3.5bn in the hydrogen industry as well as the creation of 16,000 jobs, generating £900m in GVA by 2030. The freeport will focus on low-carbon technologies including floating offshore wind, hydrogen, carbon capture, utilisation and storage, and biofuels. This will be supported by the development of land and quayside space and bringing a disused railhead back into operation to enable infrastructure to support development.
Levelling-up secretary Michael Gove said: “Wales has huge untapped potential, and that is why we have worked in partnership with the Welsh government to agree not one but two freeports for Wales. I am absolutely confident these new freeports will be transformational for Wales, helping to grow the economy, level up and spread opportunity.”
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