Will the Cabinet Secretary provide an update on the development of the Celtic Sea Freeport?
The UK and Welsh Governments have jointly assessed the Outline Business Case (OBC) submitted by the Celtic Freeport consortium. Formal feedback was provided to the consortium on 3 April, setting out some critical actions to be addressed to allow for the approval of the OBC. Responses to these actions were received on 22 April and are now being assessed by both governments.
Once the OBC is approved, the UK and Welsh Governments will work together on the legislation required to formally designate the Celtic Freeport tax sites. The timings for tax site designations will be confirmed with the UK Government once final approval of the OBC has been granted.
Following approval of the OBC, the Freeport will be invited to develop and submit a Full Business Case, which will lead to the release of seed capital funding.