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Government seeks Chinese cash for Northern Powerhouse

Government seeks Chinese cash for Northern Powerhouse

China is being urged to invest in the Northern Powerhouse, with the government seeking to woo a trade delegation with a portfolio of 13 projects.

The government has been meeting with a delegation led by vice-premier Ma Kai in London, and has presented it with the portfolio in a bid to gain more investment in a range of energy, industry, mining, housing and media projects across the north.

This portfolio offers city centre mixed-use project at the Kampus site in Manchester, Pall Mall in Liverpool and the Vaux development in Sunderland, with suburban housing and employment projects at Carrington in Greater Manchester and Kirkstall in Leeds. 

Dockland regeneration projects include Liverpool Waters and the expansion of MediaCityUK in Salford, town centre plans include mixed-use schemes in Stockport and Doncaster, while Sheffield is also planning a new Advance Manufacturing Innovation District, focused on new materials and metals, which will also include 4,000 new homes.

New offices, hangars and a logistics centre at Doncaster Airport, Britain's first new potash mine for 40 years in Whitby, plus a power station and industrial estate in Ellesmere Port complete the list.

Commenting on the potential for a new "golden era" of economic partnerships between the two countries to bear fruit, chancellor Philip Hammond said: "We have a major opportunity to open up investment opportunities across the Northern Powerhouse.

"This portfolio, opening up billions of pounds of investment ready projects to Chinese investors, will support our work to grow and create jobs across the north, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain."

Several projects in the north of England have already secured Chinese investment. 

This includes the Middlewood Locks development in Salford, new housing in east Manchester, the Airport City business zone at Manchester Airport and a partnership in Sheffield that will deliver a number of major prestige and infrastructure developments over the next few decades.

Image: iStock

 

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