The Port of Milford Haven is making a series of strategic investments to strengthen its position as the UK’s largest energy port and further expand its diversification across hospitality and tourism and renewable energy thanks to a £40m finance package from HSBC UK.

HSBC UK Relationship Director Simon Williams said: “Pembroke Dock and Milford Haven play a very important role in the economic stability of the region, with the Waterway supporting over 5,000 jobs in Wales. It’s great to see the Trust Port’s diversification into renewables and leisure, creating even more jobs that support the local economy.”

The Port, which is an independent trust port with no shareholders, is using the funds to expand its world class pilotage capability through investment in a new world class pilot transfer vessel as well as in additional highly skilled staff and modernised assets and infrastructure.

The funds have also enabled the redevelopment of a vacant retail unit, now McDonald’s, and the refinancing of Ty Milford Waterfront Hotel. With around 100,000 visitors a year already visiting the cafes, restaurants and array of independent retailers, the new, award-winning four-star hotel is supporting the Port’s ambition to develop the town as a leading destination to live, visit, play and enjoy.

At the Port’s Pembroke Port facility, the funding is being utilised to modernise the historic dockyard to attract developers of marine renewable technologies and their supply chains. The current ambition for floating offshore wind in the Celtic Sea will require over 1,000 turbines to be built, deployed, operated and maintained. There is a huge opportunity to anchor the supply chain in Pembrokeshire and create productive, well-paid jobs.

Across the business, the Port has also invested in a number of sustainability initiatives including expanding its electric van fleet and installing LED lighting, further driving the business to become Net-Zero ahead of the Government’s target of 2050.

Port of Milford Haven Chief Financial Officer Jonathan Chitty commented: 

“We’re really pleased that our investments in Milford Haven have already created over 180 jobs.  As proud custodians of the Milford Haven Waterway, we’re investing to improve safety, resilience and sustainability, not just for our own business, but for the coastal communities we support and future generations. HSBC UK has been imperative in making this happen by understanding our business needs both now and into the future and working tirelessly to provide the optimum financing package for us.”