Government grant for Sirius

1st Nov 2011 08:53

Sirius Minerals, a potash development group, has been awarded up to £2.8m from the government regional growth fund to to develop a world-leading geosciences centre. The funding, which is awarded based on evidence of regional job and value creation and is subject to the completion of due diligence, was announced on Monday by the Department of Business Innovation and Skills as part of its funding to stimulate economic growth. The proposed centre is expected to create highly-skilled jobs in scientific and geological fields, the firm said. Sirius plans to partner and collaborate with several UK and international universities and research organisations to build a "living laboratory" around the York Potash Project. Managing Director Chris Fraser said: "The York Potash Project provides an ideal platform to develop North Yorkshire's and the UK's capabilities in these highly technical fields. Without this initiative this work would have to be completed elsewhere in the world. "By working with leading universities and vocational colleges we believe we can train a future generation of geoscientists that can help to put North Yorkshire on the global map for cutting-edge research. "The York Potash Project over time is expected to generate around 1,000 direct jobs and up to a further 4,000 indirect jobs as part of the plan to provide the UK with a long-term secure supply of potash." The share price rose 2.56% to 20p by 09:08.NR