South west England ‘to see nuclear contracts worth £50bn’
Over the next 20 years, there will be at least £50 billion worth of nuclear contracts available in the south west of England.
That’s according to the Nuclear Industry Association (NIA), which says this investment will be led by projects such as the National College for Nuclear, which will provide technical training for the sector, as well as the Hinkley Supply Chain.
The Hinkley Point C power station is currently being built in the region and several decommissioning sites were added over the last year.
The NIA says there are currently 180 nuclear companies and organisations in the area, with more than 8,000 highly skilled workers.
It says the average nuclear sector employee contributes around £96,600 in value to the economy each year, 73% higher than the UK average.
The industry’s activities support around 2% of economic output in the north west and south west of England.
Tom Greatrex, Chief Executive of the NIA, said: “The UK’s nuclear sector is a vital part of the UK’s industrial heritage and the government’s Industrial Strategy and the work being undertaken to bring forward a Nuclear Sector Deal will be vital to underpinning and ultimately increasing this contribution.”