Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Government showcases £5bn of Northern projects to Chinese investors

The government has published a portfolio of 13 projects across the Northern Powerhouse to attract Chinese investment.

Chancellor Philip Hammond and Northern Powerhouse minister Andrew Percy, alongside international trade secretary Liam Fox, will showcase the 13 projects to Chinese investors as part of the government’s UK-China economic and financial dialogue meeting.

The EFD is an annual meeting between the UK chancellor and the Chinese vice-premier and has run for the past eight years.

The 13 projects, which require more than £5bn of investment, include MediaCityUK in Salford and the construction of the UK’s first potash mine for more than 40 years.

They will be showcased to vice-premier Ma Kai and a Chinese delegation today.

Mr Kai will also meet prime minister Theresa May and Bank of England governor Mark Carney as part of the visit.

Mr Hammond said the projects provided a major opportunity to “open up investment opportunities” across the North of England.

Mr Fox emphasised the projects were “real-time and market-ready”.

Chinese investors are already active in the North-west, backing projects including the £850m Airport City in Manchester that is being part-funded by Beijing Construction Engineering Group, which is also acting as construction partner.

Sheffield City Council also signed a £1bn, 60-year partnership with Sichuan Guodong Construction Group earlier this year.

The EFD also revealed that the UK would invest £40m in the Asian Infrastructure Investment Bank, based in Beijing, to help fund infrastructure programmes in developing countries.

The Northern Powerhouse Investment Portfolio:

AeroCentre, Doncaster: Working with Sheffield Airport in the next phase of development to create new offices, logistic units and aviation hangars.

Future Carrington, Trafford: Opportunities for investment in a large-scale residential and employment development, providing more than 14,000 new jobs.

Kampus, Manchester (pictured): A £200m development in the city centre, including apartments and retail. Henry Boot and Manchester Metropolitan University are acting as development partners alongside Capital & Centric.

Kirkstall Forge, Leeds: A new neighbourhood of 1,050 new homes, office space, retail, leisure and community space. The area’s new station opened in June this year.

Liverpool Waters, Liverpool: This offers land for development as part of an overall £5bn project across 60 ha to redevelop the city’s northern docks.

MediaCityUK, Greater Manchester: Plans have been submitted for a £1bn expansion of the area, which is already home to the BBC and ITV, with the expansion being developed by Peel Land and Legal & General Capital.

Pall Mall, Liverpool: Working with Liverpool City Council on a major regeneration project delivering 1,000 new homes, office space as well as retail leisure and community facilities.

Protos – Ellesmere Port, Cheshire: This project includes a range of investment opportunities in gas-fired power generation, energy generation, industrial development and rail and berth infrastructure, generating more than 3,000 new jobs with first phase along with producing £350m GVA each year.

Sirus Minerals, Polyhalite Project, North Yorkshire: Investment in construction of the first potash mine in the UK for 40 years. Contractors have already been picked for the job, including a Murphy / Hochtief JV. Full capital funding for the project will approach £2.5bn.

Stockport Exchange, Stockport: An opportunity to provide funding for Stockport Exchange, a new mixed-use development including office, retail and leisure space.

Unity, Doncaster: A major regeneration and infrastructure project that will create 3,100 new homes, a transport interchange, school and community uses. It will also provide commercial space for manufacturing uses, 6,000 jobs, a power station and a materials recycling facility.

Vaux, Sunderland: A mixed-use development providing offices, leisure, a hotel, residential and retail space.

Advance Manufacturing Innovation District, Sheffield: A centre of excellence for innovation-led advanced manufacturing in metals and materials, which will cover 800 ha and also include the construction of more than 4,000 homes.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.