INEOS SET TO PICK WALES FOR NEW 4X4
AMAJOR boost for the automotive sector in Wales is expected this week with confirmation that Ineos Automotive has chosen Bridgend for its new off-road vehicle project.
A decision could be confirmed by the company – a subsidiary of chemical giant Ineos owned by billionaire Sir Jim Ratcliffe – tomorrow.
The 4x4 project is expected to create several hundred new jobs, with the hope that in the longer term it could lead to more employment and automotive projects at a site next to the Ford engine plant, which will close next year with 1,700 job losses.
Bridgend was initially up against Portugal to land the lucrative project. However, it is understood that Ineos have opted for a two-location investment.
The project has been secured with a significant package of financial support from the Welsh Government, but with backing also from the UK Government’s
Department for Business, Energy and Industrial Strategy.
The project will be located on a huge 100-acre-plus site owned by the Welsh Government next to the Ford engine plant at Brocastle.
Work to prepare the land for new employment space covering more than 750,000 sq ft began in May. It is being undertaken by Walters.
The construction work to prepare the site is being funded by £10m from the Welsh Government, including £6m of EU funding.
The first phase of planned development covers around 17 acres of the 111-acre site.
The site will also be positioned as a prime UK location for electric vehicle production, with car and battery manufacturing co-located. The UK is currently behind other countries globally in electric vehicle production investment projects.
With the Ford engine plant forming part of a bigger development site, supported by a new rail station and transport hub, it could make it even more attractive for investment.
Automotive manufacturing, as well as other industries, could also benefit from the site’s relatively close proximity to a deep-water port at Port Talbot.
Ford owns the freehold interest in the Bridgend plant.
At one stage the Welsh Government had explored the potential for locating the Ineos project at its planned £100m automotive cluster in Ebbw Vale.
When Jaguar Land Rover announced it was ceasing production of its original Land Rover Defender in 2016, Projekt Grenadier was launched by Ineos to fill what they saw as a lucrative gap in the marketplace.
Ineos and the Welsh Government declined to comment.