The government has stumped up £30m to support manufacturing supply chain projects with a further £50m be leveraged from private sector partners.
The cash, part of the government’s £125 million Advanced Manufacturing Supply Chain Initiative,will be used to finance and strengthen 11 manufacturing supply chain projects across the automotive, aerospace and chemical sectors, which the government has defined as key areas of its industrial strategy.
Business secretary Vince Cable said: “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.”
AMSCI is part funded by the Government’s Regional Growth Fund and is delivered in partnership with the Technology Strategy Board – the UK’s innovation agency – and Birmingham City Council as the accountable authority, on behalf of the Department for Business, Innovation and Skills.
Vince Cable announced the creation of the Advanced Manufacturing Supply Chain Initiative (AMSCI) in December 2011.