Economy Secretary Ken Skates has announced (July 18th) a second tranche of funding to support businesses in Wales to take advantage of the multi-billion pound opportunities in the nuclear industry.
The £450,000 funding will secure support for a cohort of 50 companies on the Fit For Nuclear (F4N) programme – a unique service to help UK manufacturers get ready to bid for work in the civil nuclear supply chain.
The programme enables companies to measure their operations against the standards required to supply the nuclear industry – in new build, operations and decommissioning – and take the necessary steps to close any gaps.
Forecasts suggest that globally, over the next twenty years, there will be £930billion investment in new nuclear reactors and £250billion in the decommissioning of existing nuclear reactors.
Ken Skates said:
“The nuclear sector will provide a wide range of business opportunities over the next twenty years and we want to ensure that businesses in Wales are in a position to bid for and win a share of this business.
In Wales, research has identified that Welsh businesses have the potential, with the relevant accreditations and organisational systems, to compete for a significant proportion of nuclear sector contracts both in Wales and further afield and Welsh Government is eager to support business efforts to maximise their share for the benefit of the Welsh economy.”