A ‘deal has been struck’ to allow the full business case for the multi-million pound City Deal project at Pembroke Dock to be submitted – with a potential £1million cost to the council.
Cllr David Simpson, leader of Pembrokeshire County Council, said he had been “disturbed” at proposals to fund the full interest costs of the Swansea Bay City Deal project in the county, which could be more than £2million, made at last month’s full council.
At cabinet on Monday (November 4) he said that despite fully supporting the Port of Milford Haven project focusing on global marine energy innovation, that was too high a price to pay.
“The deal I have struck is so the business plan could go ahead, it’s a deal I was comfortable with and will cost us as an authority £1million,” he said, adding there was potential to reduce that.
Top slicing costs of around £400,000 are to be funded by a Welsh Government grant while the Port Authority will provide £1.3million of its own funding.
“My backstop is £1million,” said Cllr Simpson, who said he had not achieved his promise of doing the deal at no cost to the council.
The Pembroke Dock Marine project is seeking £28 million from the £1.3 billion Swansea Bay City Deal programme, which would help leverage a further immediate £32 million of public and private funding.
The Swansea Bay City Deal’s Joint Committee signed-off a detailed business case for the £60 million Pembroke Dock Marine project at the end of October to be submitted to the UK Government and Welsh Government for final approval.