China looks west to invest

China looks west to invest

Hopes for a new wave of Chinese investment in UK building and infrastructure that will underpin the creation of thousands of engineering and construction jobs have been given major boosts.

 

China’s biggest bank is invest in a new £650 million business district at Manchester airport, a Chinese investment company plans to build a new £500 million Crystal Palace in London (pictured) and a state owned nuclear power operator looks like taking a major stake in the UK’s nuclear building programme.

 

The State owned Industrial and Commercial Bank of China is expected to sign the Manchester deal during Chancellor George Osborne’s visit to Beijing on 13 October. News is also expected soon of major Chinese investment to be made in the UK’s nuclear building programme, possibly during the same visit.

 

The Manchester scheme, which is being promoted by Carillion and property developer Argent, will create five million square feet of offices and shops surrounded by parkland in a 150 acre area of undeveloped scrubland, creating an estimated 16,000 jobs.

 

London Major Boris Johnson is also visiting China in October on a trade and investment mission of his own, buoyed by news that ZhongRong Group will fund the Crystal Palace rebuilding at the original site in the London Borough of Bromley.

 

Arup has been appointed to carry out the engineering for the project that will provide a venue for concerts, exhibitions and conferences; and a hotel. Mr Johnson is to chair a project advisory board that will guide the detailed design and ensure that the plans are sympathetic to the site of the historic structure that was destroyed by fire in 1936. The project promoters hope to start on site in 2015 following a year-long consultation process.

 

Energy Minister Michael Fallon said this week that he expected a deal to be signed shortly with electricity company EDF on developing two nuclear reactors at Hinkley Point, and the state owned China General Nuclear Power Group is reportedly in talks to take a 49% stake in the £14bn project.

 

Please rate

Comments 

Ctrl + Enter

Most Read

Post-Brexit impacts of engineer skills shortages on construction

Post-Brexit impacts of engineer skills shortages on construction

How is the UK going to cope after Brexit?  According to a report from IHS Markit data research firm, based on answers from over 400 recruitment agencies, demand for staff rose sharply across the private sector in April. However “demand for staff is growing within all sectors and all

Congratulations to Tina White!

Congratulations to Tina White!

This month the Anglo family celebrates a BIG Anniversary for one of our longest standing  team members, Tina White, who has been working and leading the Water Team for 22 fantastic years in 2017! It is hard to imagine for some of our youngest staff that someone has been working tirelessly for

Are we seeing a decline in the UK Construction Industry?

Are we seeing a decline in the UK Construction Industry?

After recent events in the UK political scene, many have forecasted a decline in the economic performance of the UK industry starting in 2017. Are the March figures demonstrating this yet? Anglo studies some of the most reliable industry reports from IHS Markit in an attempt to answer this critical

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.