21 September 2012

Swansea University receives Investment for Science Innovation CampusExpansion

Swansea University has received new investment around £90million to expand its singleton park campus, of which will help on commercial projects resulting in collaborative research and development with technology business such as Tata and Rolls-Royce. The European Investment Bank investments and loans £60million, with the remaining £30m from the Welsh Government and the Wales European Funding Office.

The First Minister Carwyn Jones stated: “This is a hugely exciting project for Swansea and for Wales. I am delighted that the European Investment Bank has announced this £60minvestment to take the scheme to the next stage. The University’s plans are highly ambitions and they predict it has the potential to create thousands of jobs. That’s why I am also pleased to announce that the Welsh Government will be providing over £30m of support which includes EU funding. This expansion will be a huge boost to R&D and economic regeneration in the area and I wish it all the best for the future.”

Swansea University Vice Chancellor Professor Richard B. Davies stated: "The new Science and Innovation Campus is a transformational project for Wales and for the University. It promises to become a global exemplar for how a research intensive university can work effectively with industry, helping to drive economic regeneration and creating exciting employment opportunities for its graduates. The new facilities, world-leading research and well-qualified graduates will attract multi-national companies and support the development of high-tech clusters in the region".