27 November 2012
The government has announced that the successful bids from round one of its ?125 million Advanced Manufacturing Supply Chain Initiative (AMSCI) are projected to create or safeguard over 2,160 jobs supported by approximately ?80 million of joint public and private sector investment.
A statement from the Department of Business, Innovation and Skills said of the ?80 million investment, around ?30 million has been awarded from the initiative subject to due diligence, with a further ?50 million being leveraged from private sector partners.
The investments will finance and strengthen 11 manufacturing supply chain projects across the automotive, aerospace and chemical sectors ? areas the government says are key to its industrial strategy.
Examples of successful round one projects include an advanced manufacturing proving factory to develop the mass production of new low carbon technologies in Yorkshire, an automotive supplier that is enlarging and enhancing its manufacturing facility in the West Midlands and a next generation bio-process manufacturing capability being developed in the Tees Valley.
Business secretary Vince Cable said the round one applications represented a high quality of projects that brought together businesses and forged new partnerships across various supply chains that would strengthen Britain's presence in Europe and the world.
Author
Ken Hurst
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