The British government as revealed details[ds_preview] of a infrastructure investment program which might have positive effects for the maritime industry.
London published the new »National Infrastructure and Construction Pipeline«, with over £500 billion worth of planned private and public investment. 40% of the pipeline is being delivered because of government investment, it was said.
According to the Infrastructure and Projects Authority (IPA), the pipeline follows the Chancellor’s Autumn Statement announcement of the new £23 billion National Productivity Investment Fund. This includes i.a. infrastructure investments of over £2.6 billion to improve transport networks.
The project might have significant influence on the maritime industry. On the one hand, the infrastructure investment will generate demand für machinery, commodities and construction facilities, creating opportunities for global breakbulk and heavylift as well as drybulk shipping.
On the other hand the transport sector itself awaits investments of £ 92 bn. Another £2.7 bn are planned for flood defence works, which will bring work for the water and ports engineering industry and the dredging segment. £ 12.7 bn are planned for roads, delivering better connections for ports and maritime facilities. For ports, the government provides additional £ 700 million investments.
»A clear signal«
Investing in better infrastructure is at the heart of the government’s ambitious plans to close the UK’s productivity gap. »Today’s pipeline is the largest and most comprehensive ever, with private finance making up more than half of the pipeline to 2020/21, and will help deliver important local projects across the country including transport, broadband, flood defence, and housing«, the IPA said. The government has also today published a new funding and finance supplement to help attract further private sector investment into some of the UK’s most important infrastructure projects. »This record planned investment sends a clear signal that government is working successfully with private investors to unlock the vital infrastructure that modern Britain needs«, it was added.
