The Advanced Manufacturing Supply Chain Initiative (AMSCI) was created last year by Business Secretary Vince Cable, through which up to £125m was made available to improve the global competitiveness of UK advanced manufacturing supply chains.
Now it has been announced that through Round 1, 11 manufacturing supply chain projects across the automotive, aerospace and chemical sectors have secured £80m worth of investment. Of this, around £30m has been awarded from the initiative subject to due diligence, with a further £50m being leveraged from private sector partners.
Commenting business secretary Vince Cable said: “Over half the UK’s exports and almost three quarters of our business research and development activity is in manufacturing, so it’s vital that we create the right conditions to encourage growth in the industry.
“The successful applications in AMSCI Round 1 represent a high quality of projects that bring together businesses and forge new partnerships across various supply chains that will strengthen our presence in Europe and the world.
“Through this initiative, government and industry can work together to help UK supply chains become more globally competitive, and plug the gaps that act as barriers to efficiency and expansion.”
Examples of winning Round 1 projects include an advanced manufacturing proving factory to develop the mass production of new low carbon technologies in Yorkshire and the surrounding areas, an automotive supplier that is enlarging and enhancing its manufacturing facility in the West Midlands.
