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Chinese construction giant Beijing Construction Engineering Group (BCEG) has signed a deal with British firms to develop a business district around Manchester Airport, the companies involved in the project said yesterday.
The development of Britain's third-busiest airport, described as one of the largest construction projects in the country since the 2012 London Olympics, will cost £800 million (HK$9.9 billion).
Manchester Airport's operator MAG, GMPF, a pension fund based in the city, and British construction group Carillion would work alongside BCEG in the project, a statement released by the companies said.
A breakdown of each firm's investment in the business district, dubbed "Airport City", was not given in the statement.
British finance minister George Osborne, who is on a trip to China to boost trade ties between the two countries, wrote on his verified Twitter account that the development would eventually create 16,000 jobs for the region.
Once built, Airport City would take up 5 million square feet and boast a mix of offices, hotels, advanced manufacturing firms, logistics and warehousing, the statement said.
Manchester Airport is used by more than 20 million passengers annually. The city and its surrounding North West region contain 6.5 million people, 8 per cent of the country's population.
The deal comes at a time when Britain is seeking to boost trade with China, with both countries agreeing in 2010 to double their trade to US$100 billion by 2015.
Earlier this month, a Chinese firm announced plans to resurrect London's Crystal Palace, once the largest glass structure in the world and the venue for the 1851 Great Exhibition, in a deal worth US$800 million.


Chinese group in UK airport project

British finance minister George Osborne delivers a speech at a Manchester-China Forum in Beijing. Osborne kicked off a weeklong visit to China with the announcement of an £800 million joint venture to develop land around Manchester Airport. Photo: AP

Business

China Business

BCEG will develop the district around Manchester Airport with British firms


Chinese construction giant Beijing Construction Engineering Group (BCEG) has signed a deal with British firms to develop a business district around Manchester Airport, the companies involved in the project said yesterday.


Chinese group in UK airport project

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}BCEG will develop the district around Manchester Airport with British firms

BCEG will develop the district around Manchester Airport with British firms