Holyhead Breakwater: £40m investment to 'help safeguard' port's long-term future
£40m will be invested into refurbishing the Holyhead Breakwater, the Welsh Government has announced.
It will contribute to the £110m needed to refurbish the 150-year-old structure.
Confirming the news on Friday morning, the Welsh Government said the money will "help safeguard Holyhead Port's long-term future," with the breakwater providing "vital protection" to the port.
The Victorian engineering project, which measures nearly 2.5km in length, is coming under increasing threat as it has been gradually eroded by the Irish Sea.
Built on a rubble mound on the seabed, the Holyhead Breakwater protects the port from the waves.
Without it, conditions would be too severe for ferries and other services to operate.
Holyhead has the second busiest roll on-roll off port in the UK, providing "a key transport link between the UK, Ireland and the rest of Europe," according to Ian Davies, Head of UK Port Authorities at Stena Line Ports Ltd, which operates the Port of Holyhead.
The port also provides roughly 700 local jobs on Ynys Môn.
The investment by the Welsh Government is made up of a £20m loan and a £20m grant, and comes on top of money pledged by the UK Government earlier this year.
Talking about the news, First Minister Mark Drakeford said: “Holyhead Port is an important asset to North Wales. This £40m investment in the breakwater will help ensure the port’s future and protect jobs.
“The port is of vital strategic importance. It plays a crucial role in the delivery of economic prosperity for the region and is also a key part of our transport infrastructure.
“Today’s announcement is a positive development for Ynys Môn and demonstrates the Welsh Government’s firm commitment to the island.”
Economy Minister Vaughan Gething said: “I very much hope that by resolving the breakwater issue we are giving confidence to the private sector to invest in the port and surrounding area, which will open up exciting new opportunities.
“Both the Welsh and UK Governments saw the ambition and promise in the Ynys Môn Freeport bid and agreed for it to proceed to the next stage."
The area has been given Freeport status, meaning it has different tax and customs rules from the rest of the country to incentivise business and investment.
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