Over £16 billion of investment & thousands of jobs heading to Wales

New investments for Wales announced since the Summit was launched total £16 billion. They include international names, such as:   

• Vodafone - £600m investment to bring 5GSA coverage to 99% benefiting an extra 2 million people   

• GE - £19m to modernise its global customer base at Nantgarw site which employs more than 1,350 highly skilled engineers and technical specialists 

• Associated British Ports (ABP) - £42m capital investment in five Welsh ports, including introducing a new deep-water berth at Middle Quay, Newport  

• RWE - £200m to build its largest facility for battery energy storage in Pembroke. This will help to stabilise the UK energy market by storing surplus energy and feeding it into the National Grid   

• Eni - Several hundred-million-pound investment in carbon capture and storage on the site of the former colliery area at Point of Ayr, Flintshire creating more than 1000 jobs.    

• Bad Wolf - £2m for the production of two new high end TV productions that will invest £30m in the Welsh economy.  

Vantage Data Centers plans to invest £10 billion across south Wales, including at sites such as the former Ford Bridgend Engine Plant, transforming the plant into a world-class data-centre campus to meet the demands of the AI revolution. This investment is set to create over 5,000 jobs in data centre construction and operations. 

More than 300 business leaders and global investors from 27 countries are meeting in Newport today to explore exciting investment opportunities in Wales.   

They are joined by the Prince of Wales, who will meet a number of Welsh businesses during a tour of the Summit’s showcase. His Royal Highness will also hear from representatives from the Welsh green technology sector before joining the main conference, during which he will deliver a speech. 

First Minister Eluned Morgan said: “These major funding announcements, totalling billions of pounds, are a huge vote of confidence in Wales.   

“Today is about celebrating Wales and encouraging even more companies to invest here and create jobs here. It is a platform to showcase all we have on offer – green credentials, talent and innovation in spades.   

“We have been busy creating the right conditions for foreign investment to flourish. And it’s already paying off with world-class companies like Vantage choosing to invest here in Wales.  

“The next step is building on these major investments to ensure the jobs and economic benefits reach each and every part of Wales.”