Hinkley green light kick-starts opportunities for business, says Into Somerset
Hinkley Point C on the Somerset coast has received a further boost as West Somerset District Council granted approval on 28th July for preparatory works at the site. The third-generation nuclear power station is now set to become a catalyst for economic development throughout the county, according to inward investment organisation Into Somerset.
The project, which was named last month as an approved site for a new nuclear build development is expected to generate £10billion of investment over the next decade, with approximately one-third of the investment planned for the nuclear reactor island and the remaining two-thirds required for associated construction and civil engineering works, as well as aligned activity such as business services.
Following West Somerset District Council’s approval, the site preparation works, which will prepare the site for the main construction to follow, could begin later this year. Expected to last around 15 months, this stage will begin to unlock the benefit for business through early investment, creating around 500 new jobs.
Chief Executive of Into Somerset, Rupert Cox, says, “The Into Somerset team has been working closely with EDF Energy for some time to raise awareness of the vast range of opportunities on offer in Somerset for businesses and investors. Together we have developed the Hinkley Supply Chain Portal, which can be found at www.hinkleysupplychain.co.uk, where businesses of all shapes and sizes can quickly and easily register their interest, capabilities and accreditations – so far some 800 businesses have signed up. As well as nuclear-related industries, the project will require involvement from a huge range of other sectors, from professional services to catering suppliers, and from construction companies to designers.
“This really is a once-in-a-generation opportunity so we urge businesses to register on the Hinkley Supply Chain Portal, to make sure they’re part of this exciting, pioneering project.”
The project is expected to generate £100million per year for the local economy during construction and £40million per year during operation, with an additional £6million invested in skills and training. It is estimated that the development will provide 25,000 jobs during the construction phase, with around 5,600 people working on the site during the peak construction period and many more in the supply chain off site. At least 900 directly employed permanent jobs are anticipated at the new power station over the 60 years or more of its operation.
The main works at Hinkley Point C will be delivered via approximately 150 major contracts to ‘Tier 1’ contractors, but each of these major contractors will need to find their own suppliers. EDF Energy will also be offering hundreds of smaller contracts directly. Both EDF Energy and Tier 1 contractors are looking for suppliers now, with the help of Into Somerset and the Hinkley Supply Chain Portal.
The Hinkley Project offers an exciting opportunity for Somerset to become an industry and world leader in new nuclear. Nothing of this scale has been built in the UK for thirty years and the development will be looked upon globally as a blueprint for how nuclear power plants will be built in the future.
To register your interest or to find out more, contact Into Somerset and the Hinkley Supply Chain Team on 0845 1222 066. Further information can also be found on www.intosomerset.co.uk and www.hinkleysupplychain.co.uk.