Economy
Heavy industry is a visible feature of Port Talbot's economy. The coastal strip of the town features Port Talbot Steelworks, a large BOC Industrial Gases plant and a gas-fired power station. Three further power plants are being planned or commissioned: at Margam adjacent to the BOC plant, near the Aberavon Beach sea front and a recently announced £60m project within Corus to utilise by-product gases.
On 20 November 2007, the Department for Business, Enterprise and Regulatory Reform (BERR) granted consent for the world's largest biomass power station to be built at Port Talbot. This is expected to provide enough electricity (from wood from environmentally-managed forests, mostly in North America) to supply half the homes in Wales with electricity.
Potential future development currently centres around the peripheral distributor road to the south, Baglan Industrial Park and Baglan Energy Park to the west, Port Talbot Docks to the southwest, Margam Country Park to the east and the Afan Valley to the north. In March 2009 Neath Port Talbot County Borough Council announced a regeneration project for Port Talbot town centre and docks, with a masterplan for new homes, offices, light industry, retail developments and improvements to the railway station.
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Famous quotes containing the word economy:
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—Alexander Herzen (1812–1870)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
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—Henry David Thoreau (1817–1862)