Low carbon investment in the North East
Business Secretary Vince Cable announces 拢4.6m funding package for Teesside.
is visiting steel manufacturer , and the National Renewable Energy Centre () today. The tour is to see first hand how investment in the region is supporting sectors that can sustain growth and help rebalance the economy.
Dr Cable announced 拢4.6 million in funding from the Tees Valley Industrial Programme (TVIP) for 14 projects in the region.
Of this, 拢1.3 million will help develop Carbon Capture and Storage (CCS) in the North East.
Business Secretary Vince Cable said:
鈥淐ontinued investment in the North East is extremely important as we rebalance our regional economies, but this needs to be the right kind of support. It鈥檚 vital that any grants will garner real benefits for businesses and communities by growing local economies and skills.
鈥淭hat鈥檚 why I am delighted to announce this funding, especially for Carbon Capture and Storage, which the North East is well placed to capitalise on. These projects will create a wealth of opportunities for local businesses and create new highly-skilled jobs.鈥�
Corus
During his visit to Corus Dr Cable welcomed news the company is extending its skills and training scheme for workers at risk of redundancy.
The Government has also agreed to provide 拢300,000 to support this further training as part of a package under TVIP to help equip employees with new skills.
NaREC
At NaREC鈥檚 Blythe facilities Dr Cable will see the construction of a new 拢15 million test rig that will support R&D into low carbon marine technologies.