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Construction News
21/07/2016
Sheffield Secures £1bn Investment From Chinese Construction Company
One of China's largest construction companies is to invest £1 billion in Sheffield, it has been announced.
The 60-year partnership agreement deal was signed between the city council and Sichuan Guodong Construction Group.
The first tranche of funding will see £220 million fund four or five city centre projects over the next three years.
The deal was signed during a trade visit to Sheffield's sister city of Chengdu.
Council Leader Julie Dore said: "This is the biggest Chinese investment deal to be made by a UK city outside of London.
"The projects funded by this investment will be determined by Sheffield City Council, and the 60 year commitment secures a stream of investment into our city for the next generation, and means a whole range of projects become viable because of the long-term nature of the relationship."
Deputy Council Leader Leigh Bramall added: "We are clear that this will create hundreds, if not thousands, of additional jobs for the people of Sheffield. The investment comes from China, but the workforce on these projects will be British."
(LM/MH)
The 60-year partnership agreement deal was signed between the city council and Sichuan Guodong Construction Group.
The first tranche of funding will see £220 million fund four or five city centre projects over the next three years.
The deal was signed during a trade visit to Sheffield's sister city of Chengdu.
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Council Leader Julie Dore said: "This is the biggest Chinese investment deal to be made by a UK city outside of London.
"The projects funded by this investment will be determined by Sheffield City Council, and the 60 year commitment secures a stream of investment into our city for the next generation, and means a whole range of projects become viable because of the long-term nature of the relationship."
Deputy Council Leader Leigh Bramall added: "We are clear that this will create hundreds, if not thousands, of additional jobs for the people of Sheffield. The investment comes from China, but the workforce on these projects will be British."
(LM/MH)
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