More opportunities potentially worth billions of pounds will open up for Bristol firms currently in the supply chain for the Hinkley Point C nuclear power plant following its completion, according to a former business secretary.
Lord Hutton, pictured, who as John Hutton served between June 2007 and October 2008 under Prime Minister Gordon Brown, told delegates at Nuclear South West’s annual conference in Bristol further new build projects elsewhere in the UK would unlock billions of investment and create more than 12,000 jobs.
The £18bn Hinkley Point C project now underway near Bridgwater is already generating lucrative contracts for West of England businesses ranging from construction and civil engineering firms to hotels, recruitment agencies and transport and property suppliers.
The conference heard that the Hinkley Point C construction project, pictured below in a CGI, employed 3,200 people on site and had awarded projects worth £1.3bn in the South West alone.
Business West, the region’s largest business organisation, launched Nuclear South West in 2015 to maximise opportunities linked to the industry for firms in the region and make Bristol a global hub for a for innovation in the nuclear industry.
Speaking at conference, Lord Hutton, who is now chair of the Nuclear Industry Association, outlined the opportunities and challenges facing the sector.
“Hinkley is the start of an exciting new era for the nuclear industry and will be followed by further projects across the country,” he said.
“These will inevitably provide major opportunities for UK industry, particularly for companies that get in early.
“Nuclear South West can play an important role in helping them to do this, and therefore in supporting growth and jobs right across the South West.”
Lord Hutton also spoke of the importance of the £200m nuclear sector deal agreed with the government, which paves the way for major new investment and further job creation.
“The publication of the sector deal has been an important step for our industry and one for which we have worked intensively with government over many months,” he said.
“But publication is not the final act. What we need to do now is to effectively implement the deal so the ambitious proposals it contains can be brought to fruition. This will require a great deal of work across all the key areas.”
Nuclear South West chair Matt Burley added: “The industry has many reasons to be confident and optimistic about its future, thanks to the work taking place to sustain its growth.
“The South West’s nuclear cluster has the capacity and the capability to service all the industry’s needs. It has an unparalleled body of expertise and track record of delivery across all aspects new build, decommissioning and defence activity.
“It’s also a highly desirable destination for businesses and staff because of its combination of opportunity for growth, access to talent, professional development opportunities and quality of life.
“We look forward to continuing to work with partners in the South West and nationally to support it is success.”
A report commissioned by Nuclear South West recently revealed that the region is ideally placed to capitalise on economic opportunities worth £50bn to the UK economy.
The research states that South West-based SMEs, large companies and training providers could supply £15bn worth of work to the nuclear sector.
