WORK will start immediately on redeveloping the Agecroft Colliery site as part as a £1 billion package to regenerate former mines.
British Coal has agreed to transfer former coalfield sites to the regeneration agency English Partnerships, Environment Secretary John Gummer said today.
English Partnerships are to get £2.5 million from British Coal as the seed for a major public/private sector drive to turn the sites into factories and jobs.
A total £8.5 million of commercial investment will combine with Government cash to provide £1 billion for the 10 year plan.
Mr Gummer claimed that more than 50,000 jobs could be created.
He said: "I'm convinced that the benefit for the coal place communities will be considerable and the new agreement ensures the best possible future for the coal field sites in the North."
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