Businesses in Suffolk and Essex are being encouraged to bid for £500m worth of contracts as part of the development of Hinkley Point C
Hinkley Point C constructor EDF are keen to include Suffolk and Essex companies in the bidding process for contracts worth £500m – to gain experience ahead of further power station developments at Sizewell and Bradwell – a huge boost to the local economy, creating hundreds of jobs, could be in the offing.
Now Lloyds Banking Group is urging businesses to apply – and is providing a dedicated £100m infrastructure fund to help local organisations to scale up to meet the demand, as well as offering mentoring and advice.
The fund is designed to provide SME businesses with the financial backing to bid for supply chain contracts. In addition, the bank is working closely with potential suppliers to advise on how best to address skills shortages, improve financial practices and explore the possibility of joint ventures, as a way of securing contracts.
A further two nuclear power stations are set to be developed at Sizewell and Bradwell in the next 10 years, presenting a long-term opportunity for local businesses.
A supply chain seminar set up by Invest ESSEX with partners Lloyds Banking Group, Invest in Suffolk, Suffolk and Essex Chambers of Commerce and EDF Energy took place last week in Braintree, and a second one is planned for February in Suffolk.
Speaking at the event Gareth Oakley, Lloyds Banking Group ambassador for the East of England, said: “Hinkley Point C is one of the UK’s biggest investment and construction projects and we’re working with businesses in the East of England to help them benefit from the supply chain opportunities.
Gareth Oakley Managing director , Business Banking ,Lloyds Banking Group -East of England speaking at the seminar said:
“Hinkley Point C is one of the UK’s biggest investment and construction projects and we’re working with businesess in the East of England to help them benefit from the supply chain opportunities.
The support we’re offering forms part of our Helping Britain Prosper Plan, which takes us beyond ‘business as usual’ tackling the social and economic issues that matter most to people, businesses and communities.
” We identified Hinkley point C as a significant development for small businesses and our message to them is – we want to help you take advantage of the opportunity, position your business and secure contracts.”
Suffolk Chamber will also be assisting Local(Suffolk) and Regional ( Norfolk, Cambridgeshire, Hertfordshire, Beds, and Essex )companies with introductions and helping suppliers to understand how to work with Tier 1’s.
For the full story about the event please follow the link here to the East Anglian Daily Times news item.
To register your interest in the next Hinkley Point C supply chain event planned for February 2019 please contact: business.support@investessex.co.uk