Teesside shortlisted for £1.3 billion small nuclear reactor factory

The Tees Valley has been shortlisted for a factory to build small nuclear reactors, with the potential to create thousands of jobs.

If successful, international energy firm Holtec Britain would invest £1.3 billion in the region with the potential for £1.5 billion to be generated over the next 15 years.

It is hoped 3,600 jobs could be generated in the construction phase, with 400 manufacturing jobs once the factory begins operations.

The factory would produce reactors which could then be deployed in the UK and overseas to Europe and the Middle East. It is anticipated the factory could produce up to four reactors each year, with a value of £1-2 billion each.

No nuclear fuel will be dealt with on-site.

The region is up against West Midlands, Cumbria and South Yorkshire to host the factory after a shortlist was drawn up from a longlist of 14 candidates.

Tees Valley Mayor Ben Houchen said: “We’re at the forefront of clean energy technology across Teesside, Darlington and Hartlepool – and this shortlisting shows how we’re truly the capital of growth for Small Modular Reactor technology.

“I’m confident we can convince Holtec we’re the premium site given our deep knowledge base in engineering, our great transport links via the Tees, and huge potential we have at our Freeport.

“The potential for another 400 highly skilled well-paid jobs for local people is another huge boost.

“This once again shows we’re putting down a marker to the rest of the world and showing we’re a powerhouse in green energy production and manufacturing on a global stage.”

A visit by Holtec is expected to take place in the coming months.

A final decision on where the factory will be built will be made in the autumn.

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