Member Article

Liverpool2 river project wins £35m from RGF

Liverpool’s maritime sector has secured a £35m boost from the Government’s Regional Growth Fund (RGF).

The Chancellor, George Osborne, was in the city on Tuesday when he unveiled the grant, which will fund a project to dredge the approach channel to the Mersey Estuary.

During a visit to the Port of Liverpool Mr Osborne met with business representatives from Merseyside who will potentially benefit from the dredging scheme, along with apprentices who are training for jobs in the maritime industry.

Mersey Docks and Harbour Company secured the RGF grant, which will contribute to the cost of dredging the Mersey Estuary at Seaforth and deepen the approach to the channel to 16m.

Much larger container ships will be able to access the channel as a result of the scheme, such a post-Panamax size vessels, as well as a range of other river users.

The grant will also support, create and expand thousands of jobs and businesses that depend on industry from the river.

Mr Osborne said: “This project is good news for Merseyside and the North West, but also important to the UK as a whole.

“As well as creating 5,000 jobs, upgrading Merseyside’s maritime infrastructure demonstrates that this country is open for business, and ready to compete in the global race.

“This government is working hard to heal the damage inflicted on our economy, and we are making sure we prioritise this kind of long-term investment in the infrastructure of our country.”

The grant will support part of a wider £300m project called Liverpool2, which won a £150m fund last year from the European Bank.

Mark Whitworth, chief executive of Mersey Docks and Habour Company parent firm, Peel Ports Group, said: “This is exactly the kind of public sector investment the country needs because it will drive growth in the UK’s private sector by improving infrastructure.

“The grant will critically support the region’s maritime economy, and it will help Peel Ports expand the Port of Liverpool with our new £300m container terminal Liverpool2.”

Liverpool City Region currently employs 28,000 people in its maritime sector across 1,700 businesses and accounts for 15% or £2.6bn of region’s annual economic output.

Chair of the Mersey Maritime Group and managing director of Atlantic Container Line, Ian Higby, commented: “This is a fantastic boost for businesses across the region’s maritime sector. Dredging the estuary is essential for growth in the region’s maritime sector.”

Susan Williams, chief executive at Atlantic Gateway concluded: “The maritime sector has always been central to the Liverpool City Region’s economy and this award will further underpin the growth of hundreds of maritime businesses that use the Mersey in what is an increasingly competitive global market.

“The RGF grant will significantly boost international trade for the region and will drive jobs and growth. Investment in this kind of important infrastructure is crucial to developing international trade routes to the North of England.”

This was posted in Bdaily's Members' News section by Miranda Dobson .