Tees Valley process funding agreed
16 Dec 2013
Prime Minister David Cameron announced on Friday a deal to boost the process industries on Teesside.
The Tees Valley City Deal, which represents £28 million of private sector investment and the creation of up to 3,500 jobs, has three main areas of focus.
It will: provide a platform to enable increased investment in the processing, chemicals and new green technologies industries; progress carbon capture and storage (CCS) for Tees Valley; and create a new waste industrial heat network, with the power generated being used to heat businesses, homes, hospitals and local authority buildings.
Through the Government’s localism agenda we have been able to secure the funding we need
NEPIC chief executive Stan Higgins
The North East of England Process Industry Cluster (NEPIC) welcomed the deal, suggesting an industrial CCS system will enable larger CO2 processing industries in the area to capture and store emissions.
NEPIC chief executive Stan Higgins said: “Through the Government’s localism agenda we have at last been able to secure the funding we need to evaluate this technology for our industry.
“Should the system be built as a result of the work announced today it will have two major impacts. Firstly, it should stop further carbon leakage; that is companies moving abroad to locations where carbon taxes are lower. And secondly, it will be a significant attractant for future process industry investment.”
