§ 14. Mr. Bestasked the Secretary of State for Wales what progress has been made in securing private sector finance for factory building by the Welsh Development Agency.
§ Mr. Nicholas EdwardsThe agency is announcing today that the Norwich Union insurance group has agreed in principle to purchase for £5½ million the 240,000 sq. ft. of factory space which is being built in the Bridgend area as part of the special programme for Port Talbot. Together with the agreement recently announced for the Coal Board pension funds to finance some £3 million-worth of small units, and the sale of a number of existing factories, this means that a total of some £10 million of private funds will now be available to the agency over the next two years for additional factory building.