North Wales attracts billions in new investment last year
North Wales attracts billions in new investment last year
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North Wales has secured billions of pounds of new investment over the past year, fuelling thousands of jobs and strengthening the region’s position in clean energy, advanced manufacturing and emerging technologies.
The Welsh Government’s Wales Investment Summit drew more than 300 business leaders from 32 countries, 150 of them visiting Wales for the first time, as ministers look to showcase opportunities across the nation.
A major driver of recent momentum is the decision to confirm Wylfa on Anglesey as the site of the UK’s first small modular reactor (SMR) nuclear power station.
Backed by the UK Government, Great British Energy-Nuclear and Rolls-Royce SMR, the £2.5 billion development has been hailed as “the most significant industrial investment in North Wales for a generation,” with 3,000 jobs expected.
Energy tech giant Eni is also scaling up activity in the region after securing an Economic Licence for a carbon capture and storage (CCS) scheme beneath the North Wales coastline.
Through Liverpool Bay CCS Ltd, almost £700 million will be invested into Welsh CO₂ infrastructure. Construction is now underway and will provide work for around 1,000 people in Wales, as part of a wider 2,000-job project.
The scheme will link to Heidelberg Materials’ Padeswood cement plant, set to become the world’s first fully decarbonised cement facility. The project will capture around 800,000 tonnes of CO₂ annually, safeguard 200 jobs, create 50 more and generate up to 500 construction roles.
Phil Hemmens, Senior Advisor for Eni CCUS Holding, said: “Eni is proud to be continuing our long-standing presence in North Wales through the development of our Liverpool Bay Transportation and Storage network, as the backbone of the broader HyNet cluster.
“The project will see significant investment into infrastructure in the region, as well as creating and safeguarding thousands of jobs.”
Advanced manufacturing investment continues to rise. Knauf Insulation is building a £170 million factory in Shotton, creating around 140 jobs, while Kellanova is investing £75 million to double capacity at its Wrexham Kellogg’s plant, adding 130 roles.
Siemens has also opened its new Healthcare Technology Centre of Excellence in Llanberis, safeguarding 400 posts and creating 100 more.
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: “We have raised the profile of Wales as an outstanding investment destination… North Wales is benefitting with high-quality jobs in key sectors.”
First Minister Eluned Morgan added: “Investment is vital to creating jobs and growing the Welsh economy. The Wales International Investment Summit will show the world what a great place North Wales is to invest in.”
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