Tees Valley Mayor Ben Houchen has hosted Barclays Bank Group Chief Executive and its Head of Manufacturing, Transport and Logistics for a tour of the Teesside Freeport, the UK’s first and largest Freeport.

He welcomed CEO C.S. Venkatakrishnan (known as Venkat) and Lee Collinson, who is leading Barclays’ work to showcase Freeport benefits to clients, on a tour of the Teesworks site, which sits at the heart of the Freeport.

Read more: Timeline set out for 'UK first’ Sembcorp batteries project

The Mayor highlighted all of the opportunities the Freeport is bringing not just at Teesworks but right across Teesside, Darlington and Hartlepool, including the most recent investment from SeAH Wind Ltd for its 90-acre £200million offshore wind monopile production facility. The visit also included a presentation by Freeport Director Nolan Gray.

Barclays has a long history of supporting innovation in the region, with one of its principal establishing partners, Darlington-based James Backhouse, being involved in the financing of the Stockton and Darlington Railway which opened in 1825. The firm is also supporting a film production to celebrate the railway’s bicentenary in 2025.

It is now looking to the future by hosting a range of client events throughout the year to highlight the advantages of Freeports, such as their wide package of tax reliefs, simplified customs procedures and streamlined planning processes.

Mayor Houchen said: “It was an honour to welcome Venkat and Lee to Teesworks to show them first-hand how we’re leading the UK with our Freeport, demonstrating how it is playing a key role in our net zero ambitions and in welcoming industries of the future to Teesside. It’s incredibly encouraging to learn about all that Barclays is doing to raise awareness of Freeports and their benefits with its clients and I’m certain we will continue to work together to maximise the potential of the Teesside Freeport."

C.S. Venkatakrishnan said: “As the first bank to engage with the Teesside Freeport prior to their formal launch, it was really exciting to be on site to see the significant opportunities that are taking shape here in clean energy, advanced manufacturing and offshore wind, especially for early-stage and high growth businesses, creating thousands of jobs and investment in the region.

“Some of our clients are already engaged in the redevelopment of the site. We are working closely with Nolan and his team to explore the right opportunities for our clients, and to support this ambitious programme as it develops.”

 

Keep up to date with all the latest news on our website, or follow us on Facebook, Twitter and Instagram.

You can also follow our dedicated Teesside Facebook page for all the latest in the area by clicking here.

For all the top news updates from right across the region straight to your inbox, sign up to our newsletter here.

Have you got a story for us? Contact our newsdesk on newsdesk@nne.co.uk or contact 01325 505054