The HCA is to invest £3.16m in the Cowes Harbour Commission's proposals to install a new 400m-long stone breakwater barrier near the main harbour entrance, to offer marine craft and the local area extra protection from high winds and tidal pressures.
The Cowes Harbour Breakwater project aims to bring a significant economic boost to the area by supporting the island's marine and tourism economy and generating millions of pounds from extra visitors and increased trade for local cafes, hotels and businesses. It aims to provide the harbour with an extended sailing season to allow events to be hosted beyond the summer months and offer extra protection for commercial vessels and ferry services throughout the year.
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The HCA investment represents an additional £3m contribution to the project, with £3m coming from the Commission's own funds. It will see construction work start in earnest later this year.
Colin Molton, HCA Executive Director for the South and South West, said: "This investment has clear benefits for an important local project and the wider economy, by securing employment, extra investment and keeping an internationally renowned sailing venue firmly on the map.
"This is a strong signal of our commitment to the Isle of Wight. This is a complex project and has required the long-standing commitment of all partners to get to this present stage. We are keen to work with partners to ensure that work is completed on time and that local people start to feel and see benefits of the investment."
(CD/JP)
