£2.2m will be invested to drive forward plans led by Conygar Investment Company PLC to develop the first phase of a logistics and distribution hub at Parc Cybi, near the Port of Holyhead.
The EU investment will help provide high quality workspaces, including two office buildings and two distribution warehouses further supporting the development of the port as the UK ’s main freight terminal serving Dublin and Ireland. It will also create employment opportunities on the site.
Deputy Minister for European Programmes, Alun Davies, said:
"This strategically important site will act as a catalyst for future investment and jobs in the region’s economy. We are committed to developing the right infrastructure to encourage investors and enable businesses to grow. I am pleased we have been able to back this initiative with EU funding, providing a real boost to North West Wales."
The accommodation will complement plans to develop a lorry park opposite the site, making it more attractive to companies who will be able to access and serve both existing and emerging markets. The plans also complement the strategic regeneration of Anglesey, with Parc Cybi being one of the sites earmarked for development as part of the Islands’ new Enterprise Zone status.
Conygar Director, Peter Batchelor said:
"We are extremely pleased to have Welsh Government support for this much needed facility which will enhance the Port of Holyhead and also create various employment opportunities. Together with our own substantial investment, the EU funding will enable us to press ahead with confidence despite the difficult economic conditions."