Somerset County Council has today heralded the start of a new economic chapter as officials put pen to paper on the Hinkley Point C contract.
The contract was signed in London this afternoon by the UK’s Secretary for Business, Energy and Industrial Strategy, Rt Hon Greg Clark, President Directeur General d’EDF, Jean-Bernard Levy, and Chairman of CGN, He Yu.
It marks the point of no return for what will be the largest engineering project in Europe and a once-in-a-generation opportunity to boost jobs and economic prosperity, and to generate thousands of training opportunities for local people.
Today’s signing follows a comprehensive review of the Hinkley Point C project and a further announcement of an agreement in principle this month. Councillor David Hall, Deputy Leader of the Council and Cabinet Member for Business and Inward Investment, described it as “the news we have all been waiting for.”
“A tremendous amount of work has been happening behind the scenes to be sure that we are ready for this very moment,” he said. “We are committed to continue working together with Government, EDF and partners to see this development delivered as soon as possible and to fully realise the opportunities presented by the project to transform the local and regional economy.”
Leader of the Council, John Osman added: “Today’s contract signing is the point of no return on this extremely important project. Hinkley Point C is a once in a lifetime opportunity for our businesses, young people and the county as a whole.”
During construction alone, the project is expected to bring £200 million to the local economy. Over the lifetime of the project, the regional economy is set to benefit by around £4 billion. It is hoped the development will kick-start a national nuclear renaissance and will be the catalyst for economic growth in Somerset and the wider South West region.
To find out more about the Hinkley Point C project in Somerset, please visit www.somerset.gov.uk/hinkley