Businesses acrossWales get help to become Fit For Nuclear
A SECOND tranche of funding to help businesses in Wales take advantage of the multi-billion-pound opportunities in the nuclear industry has been confirmed by Economy Secretary Ken Skates.
The £450,000 funding will secure support for a cohort of 50 companies on the Fit For Nuclear (F4N) programme – a 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 20 there will be £930bn investment in new nuclear reactors, including the proposed Wylfa Newydd project for Anglesey, and £250bn in the decommissioning of existing nuclear reactors.
Mr Skates said: “The nuclear sector will provide a wide range of business opportunities over the next 20 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.”
F4N has been developed by the Nuclear Advanced Manufacturing Research Centre (AMRC), part of Sheffield University, with the support of its top-tier partners, including nuclear new-build developers and the Nuclear Decommissioning Authority, which use the programme to identify potential companies for their supply chains.
Helen Arthur, F4N programme manager at the Nuclear AMRC, said: “The 20 Welsh companies currently working through the F4N programme have highlighted the wealth of high-quality manufacturers in Wales which could meet the demands of the nuclear industry. We are very excited to continue working with the Welsh Government to make sure that more Welsh manufacturers can access our support and get ready to win work in the nuclear supply chain at home and worldwide.”
There is no set timescale for businesses from undergoing an assessment to being granted Fit For Nuclear status but most achieve it within 12-18 months.
Expressions of interest are being sought from businesses in Wales wishing to participate in the F4N programme. Eligible companies must have a manufacturing facility in Wales, a turnover of £1.6m or more and employ 10 or more people.