Celtic Freeport unveils five-year plan aimed at attracting billions in investment

Mark Mansfield

The Celtic Freeport has published its first five-year strategy, setting out plans to attract investment, support major energy and manufacturing projects, and create new employment opportunities across south and west Wales.

The freeport, which spans Milford Haven and Port Talbot, says it aims to position the region as a centre for renewable energy, advanced manufacturing and industrial decarbonisation over the coming decades.

Backers of the project estimate the freeport could help secure more than £8 billion of investment and support 11,500 jobs over the next 25 years.

The strategy identifies floating offshore wind, hydrogen, sustainable aviation fuel, carbon capture and storage, battery technology and advanced manufacturing among the sectors expected to drive future growth. It also highlights the role of the ports of Milford Haven and Port Talbot in supporting major infrastructure developments.

Cathy Hall, interim chief executive of the Celtic Freeport, said: “This Five-Year Plan sets out how the Celtic Freeport will support businesses across the region to decarbonise, grow and access new opportunities.

“We will be focussing on delivering projects to consolidate the region’s strong industrial future.”

The freeport is a partnership involving Associated British Ports, the Port of Milford Haven, Dragon LNG, RWE, Impala, Camlas, Ledwood Mechanical Engineering, Pembrokeshire County Council and Neath Port Talbot Council.

According to the strategy, the organisation’s immediate priorities include delivering a £25 million seed capital programme by 2028-29, attracting private investment into freeport sites and developing a longer-term investment strategy funded through retained business rates generated by future developments.

The document also identifies a number of challenges facing the region, including securing grid connections for renewable energy projects, attracting infrastructure investment, addressing planning and regulatory hurdles, and ensuring local people benefit from new employment opportunities.

To address those issues, the freeport says it will work closely with the Welsh and UK governments, local authorities, colleges, businesses and trade unions.

Training

Among the proposals are plans to support workforce training, develop local supply chains, encourage innovation and create stronger links between employers and education providers. The strategy also outlines ambitions to establish a community fund in future years to support projects that deliver visible local benefits.

The freeport’s longer-term vision is to create what it describes as a diversified economy supported by local supply chains, high-value employment opportunities and low-carbon industries. By 2050, it hopes to have established the region as a hub for technologies linked to the energy transition, while creating a thriving local workforce and business ecosystem.

The Celtic Freeport was formally launched in 2024 as one of the UK’s investment zones, offering a package of tax incentives, customs benefits and government support designed to attract private sector investment into designated sites around Milford Haven and Port Talbot.