The Cardiff Capital Region (CCR) Cabinet will support the £180 million redevelopment of Cardiff’s main transport hub with £40m of City Deal funding.
The proposed Metro Central project will bring a new Central Transport Interchange to the heart of Cardiff’s city centre.
The project covers the new Central bus station, the modernisation of Cardiff Central train station, and the delivery of other transport infrastructure such as a new coach station, a cycle hub and public realm improvements.
The aim is to improve the capacity of the Central Interchange to accommodate increased frequency of services delivered through the South Wales Metro investment.
The Cabinet meeting in Nantgarw looked over the report from Cardiff City Council Leader, Huw Thomas, which outlined the plans, as well as a request for funding of £40million.
The Cabinet unanimously agreed to allocate the money in principle from the City Deal Investment Fund towards the project to assist with securing match-funding from UK Government, Welsh Government, and the private sector.
Cllr Andrew Morgan, Chair of the CCR Cabinet, said: “Myself and my fellow Leaders are delighted to offer City Deal support for this transformational project.
“Anyone who travels into and through Cardiff is very aware of the desperate need for improvements to the transport infrastructure, and the anticipated rapid growth of the capital city means this project is absolutely critical.
“I think it is important to stress that this a project which will benefit all of the regions, particularly if we are to see the introduction of a new 15-minute service between the Valleys main lines and Cardiff under the South Wales Metro plans.
“85% of Cardiff’s recent job growth arises from an increase in net commuting into the city from adjacent communities, and it is critical this continued growth is supported by the appropriate infrastructure.”
Cardiff is expected to grow faster than any other UK Core City over the next 20 years in terms of populationaccording to Welsh Government and National Statistics projections, with population growth of more than 20% between 2017 and 2037.
Cardiff Council leader, Cllr Thomas added: “There is a compelling and urgent need to make sure that Cardiff Central can accommodate predicted growth in passenger numbers, especially given the role that the Metro will play in spreading the benefits of the City Deal.
“It is also crucial that we make sure that Wales can compete as a business location and capture mobile investment.
“This development represents a vital step towards creating Wales’ first truly internationally competitive business hub, focussed around the nation’s main transport interchange and creating jobs for the whole region.”
The agreed Metro Central funding is the second investment to be agreed by the Cabinet since the CCR City Deal was formally signed by the region’s ten local authority partners last March.
In May 2017, the Cabinet agreed to contribute £37.9 million from the CCR City Deal’s Wider Investment Fund towards the establishment of a facility to act as an anchor in the region for high-end compound semiconductors.