UK launches £200 million fund to enable ports for building new facilities
The country's government has launched a £200 million fund to allow ports to develop new facilities and prepare for life outside the EU, ahead of the UK's departure from the EU customs union.
Whether or not the UK secures a negotiated deal with the EU when the UK exits the Customs Union and the Single Market and new processes will be placed in place, new facilities at ports will be required.
The Port Infrastructure Fund is explicitly aimed at those ports that have the room to construct new border infrastructure at their current sites in order to be able to fulfill new customs requirements under the new Border Operating Model.
For a range of vital port facilities, from warehouses and control posts to traffic management systems, funding may be used.
The deadline for applications is midday on 30 October, with the announcement of effective bids shortly afterwards.
Where infrastructure is not ideally placed at ports, an additional £ 270 million has been allocated by the government to construct inland customs facilities.
“With just 3 months to go until the end of the UK transition period, businesses need to prepare now for the new procedures that will come into place whether or not we reach a trade agreement with the EU, so that we can seize the significant opportunities that lie ahead,” Michael Gove, Chancellor of the Duchy of Lancaster stated.
Maritime Business World