Bolton to benefit from £800 million Chinese investment in Manchester Airport
TAXPAYERS in Bolton are set to reap the rewards of an £800 million Chinese-led investment into the Airport City project at Manchester Airport, according to councillors.
Chancellor George Osborne announced the investment last week, funded by Chinese firm Beijing Construction which, along with Carillion and the Greater Manchester Pension Fund, will oversee the new project.
Bolton Council has a three per cent stake in Manchester Airports Group, which owns Manchester Airport, and last year received £2.4 million of the airport’s profits, which went towards frunding school dinners in the borough.
Cllr David Chadwick, Cabinet member for highways and transport, said the council hopes to benefit from an increased “dividend” as a result of Airport City, as well as providing a boost to Bolton businesses involved in construction.
Airport City will see new offices, hotels, business premises, manufacturing buildings and warehouses opened, forming the core of the Government’s designated Enterprize Zone. The plans should create an additional 16,000 jobs for the North West.
Cllr Chadwick said: “This investment shows people that there are economic opportunities outside London. Bolton constuction firms being involved in the works will be the main benefits.”
Council leader Cllr Cliff Morris said: “This is a perfect example of the public and private sectors working together to create jobs and economic growth.”
Cllr John Walsh, for Astley Bridge, said the announcement was poignant, given the recent death of Sir Gilbert Thompson, who led the airport’s development of in the mid-1980s. Cllr Walsh said: “Gil transformed the airport from a regional operation to an international hub.”
Charlie Cornish, Manchester Airport Group chief executive, said: “This gives us an opportunity to strengthen vital business links with China.”
Airport City will be one of the UK’s largest regeneration schemes since the Olympics redevelopment, competing with at Barcelona and Amsterdam airports.
Xing Yan, BCEG International managing director, said: “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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