Major Chinese investment announced for Manchester Airport's 'Airport City' (From Messenger Newspapers)
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Major Chinese investment announced for Manchester Airport's 'Airport City'
MANCHESTER Airport is to receive an £800 million investment in the form of a joint venture agreement announced by Chancellor George Osbourne on Monday.
Chinese company, Beijing Construction, (BCEG) as well as the UK's Carillion Plc and the Greater Manchester Pension Fund are to oversee the 'Airport City' project – Argent has been appointed as development manager for the scheme.
Airport City will be the core element of the Government-designated Enterprise Zone which surrounds the airport, aiming to attract international businesses and create an additional 16,000 jobs in the North West.
Manchester Airport Group (MAG) chief executive, Charlie Cornish, said: “We are delighted to confirm organisations of global standing as our joint venture partners.
“The inclusion of BCEG is significant because as a group, we have been keen to forge greater links with the far east and this gives us an opportunity to strengthen vital business links with China.”
Airport City is expected to be one of the largest regeneration schemes in the UK since the Olympics redevelopment in east London, competing with existing projects outside the UK including those at Barcelona and Amsterdam airports.
Xing Yan, managing director of BCEG International, said: “To be included in such an interesting and unique development is a real honour.
“To be part of a project of this size and scale, working alongside other such highly regarded organisations, will be an exciting, challenging and rewarding opportunity, which we look forward to beginning.
“We see our involvement in Airport City as an extension of the memorandum of understanding between China and the UK, where we have been looking to further explore joint infrastructure opportunities for some time.”
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