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Written Statement - Market Engagement Event for the Mutual Investment Model

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Mark Drakeford, Cabinet Secretary for Finance and Local Government
Mark Drakeford, Cabinet Secretary for Finance and Local Government

Last month, I updated Assembly Members about the Welsh Government’s commitment to boost investment in public infrastructure using the new Mutual Investment Model (MIM) we have developed and my intention to begin discussions with potential partners about the delivery of three schemes.

On 23 March, more than 200 leaders from across the construction and financing sectors came to an event at the Penarth Learning Community. The Cabinet Secretary for Health, Well-being and Sport, the Cabinet Secretary for Education and I set out the model in more detail and provided an update about each of the schemes in the pipeline.

The three schemes – with a capital value of around £1bn – are the redevelopment of Velindre Cancer Centre; the dualling of sections five and six of the A465 and a significant tranche of investment in the next phase of the 21st Century Schools and Education programme.

The interest shown in the event is clear evidence of the interest from potential partners in MIM schemes and of the appetite for investing in public infrastructure in Wales. It provided an excellent platform on which to build a relationship with partners. There will now be further, more detailed, market engagement on each of the projects in the pipeline.