£16bn investment wave set to create more than 10,000 jobs across Wales
£16bn investment wave set to create more than 10,000 jobs across Wales
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Wales is set for a major economic boost after First Minister Eluned Morgan announced £1.4 billion of new investment ahead of the Wales Investment Summit, bringing the total value of projects unveiled since the Summit’s launch to £16 billion.
More than 10,000 new jobs are expected across the country as global companies commit to large-scale projects spanning digital infrastructure, clean energy, advanced manufacturing and the creative industries.
Major international players are among those expanding their footprint in Wales.
Vodafone has confirmed a £600 million programme to extend 5G Standalone coverage to 99% of the population, a move expected to benefit an additional two million people.
GE Aerospace is investing £19 million to modernise its Nantgarw facility, which employs over 1,350 highly skilled engineers and technical specialists.
Ports operator Associated British Ports is committing £42 million across five Welsh ports, including the development of a new deep-water berth at Middle Quay in Newport.
In the energy sector, RWE plans to spend £200 million on developing its largest battery energy-storage facility in Pembroke to support grid stability as renewable generation expands.
Italian energy group Eni is preparing a several hundred-million-pound investment into carbon capture and storage at the former Point of Ayr colliery in Flintshire—an initiative set to create more than 1,000 jobs.
Meanwhile, Cardiff-based production company Bad Wolf has secured £2 million to produce two new high-end TV projects, expected to generate £30 million for the Welsh economy.
One of the biggest commitments comes from Vantage Data Centers, which is planning a £10 billion programme across south Wales, including the transformation of the former Ford Bridgend Engine Plant into a world-class data-centre campus geared towards the demands of artificial intelligence.
The project is expected to support more than 5,000 jobs in construction and long-term operations.
The investment announcements come as more than 300 business leaders and investors from 27 countries convene in Newport for the Summit.
The Prince of Wales is attending the event, where he will meet Welsh businesses, engage with the nation’s growing green-technology sector and deliver a keynote address.
First Minister Eluned Morgan described the latest wave of investment as a major endorsement of Wales’ capabilities.
“These major funding announcements, totalling billions of pounds, are a huge vote of confidence in Wales,” she said.
“Today is about celebrating Wales and encouraging even more companies to invest here and create jobs here. It is a platform to showcase all we have on offer – green credentials, talent and innovation in spades.
“We have been busy creating the right conditions for foreign investment to flourish. And it’s already paying off with world-class companies like Vantage choosing to invest here in Wales.
“The next step is building on these major investments to ensure the jobs and economic benefits reach each and every part of Wales.”
The latest commitments build on £4.6 billion of inward investment announced last week, spanning major projects from Wylfa alongside funding from Rolls-Royce, Vishay, Stena Line, Boccard and Bute Energy.
Stephen Edwards, Managing Director & Executive Plant Leader at GE Aerospace Wales, said: “This investment reflects GE Aerospace’s commitment to operational excellence and sustainability.
“By modernising our infrastructure, we are not only enhancing our capabilities but also creating opportunities to support the next generation of engines and renewable energy projects.
“This investment secures the future of global operations right here in Wales, the gateway to the European aerospace market.”
Nikolaus Valerius, CEO of RWE Generation SE, highlighted the growing importance of storage in a renewables-dominated energy system.
He said: “In a dynamic energy world with more and more renewable energies, there is an increasing need for mature technologies that can instantly support the electricity grid. Battery storage systems are ideal for this because they are fast, efficient and competitive.
“Our Pembroke Battery is our UK flagship storage project and will make an important contribution to stabilising the UK energy market by efficiently storing surplus energy and feeding it into the national grid in a targeted manner.”
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