A major investment of over £1bn in the redevelopment of Shotton Mill in Deeside, North Wales, will safeguard 147 jobs and create a further 220 when fully commissioned, the UK and Welsh governments have confirmed today.
Cabinet ministers from both the UK and Welsh government will visit the historic industrial centre of Wales to meet with members of Eren Holdings, who acquired Shotton Mill in 2021. There, they will hear more about the site’s transformation, which will turn the area into the UK’s largest paper manufacturing site.
The announcement comes ahead of the Investment Summit next month which will make clear that the UK is “open for business” as the UK government resets relations with trading partners around the globe and creates a pro-business environment that supports innovation and high-quality jobs at home and supports our mission to deliver growth.
The Welsh Government has provided nearly £13m in funding alongside £136m in support from UK Export Finance (UKEF), the UK government’s export credit agency.
Business and Trade Secretary Jonathan Reynolds said: “This is a massive vote of confidence in the Welsh economy and this government’s plans to make Britain the destination of choice for investments in the industries of tomorrow. This transformative investment will not only support local skilled jobs but raise living standards in the community.
“The deal being announced today is testament to what can be achieved when the Welsh and UK governments work hand in hand.
“We’re also proud to celebrate National Manufacturing Day, where we recognise the tremendous innovations taking place right across the sector, not least here in Shotton Mill.”
Secretary of State for Wales Jo Stevens said: “Deeside has a long and proud history as one of Wales’ key industrial centres and this significant investment from our two governments will secure jobs and help bring a prosperous future for the area.
“We have reset the relationship between the UK and Welsh Government. Working together in close partnership we are delivering growth and good jobs to people across Wales.”
Northeast Wales is a key industrial centre, with Deeside being one of the largest industrial parks in Europe. Shotton steelworks once operated on site, with industrial activity at the Mill dating back over 100 years.
The investment represents a new lease of life for the site and will support economic stability in Deeside and the North Wales area as both governments look to deliver long-term, sustainable, growth right across the UK.
The announcement also falls on National Manufacturing Day as the government celebrates the nation’s first-class manufacturing industry. The UK government’s upcoming modern industrial strategy will back workers and give international investors the confidence they need to invest in Britain, creating jobs and growth across the UK.
The UK remains an attractive destination for green investment and this announcement will help create jobs, grow the economy and export high-quality, sustainable goods around the world.
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