14-Oct-2013 2:23 PM

British-Chinese JV wins contract to develop Manchester 'Airport City'

UK Chancellor George Osborne announced (13-Oct-2013) the contract to develop Manchester Airport's GBP800 million 'Airport City' has been awarded to a JV between Beijing Construction Engineering Group (BCEG), Carillion PLC and the Greater Manchester Pension Fund (GMPF), in partnership with Manchester Airports Group (MAG). Carillion and the GMPF will act as funding partners. The project will provide over 5 million square feet of business space, including manufacturing, warehousing, offices, hotels, retail and leisure outlets across a 160 acre regeneration site, creating over 16,000 jobs. The JV appointed Argent as development manager for the project. Mr Osborne stated: "I am delighted to announce on the first day of my visit to China that joint British-Chinese partners have won the contract to develop Manchester’s Airport City. As an MP representing a nearby seat I welcome the new jobs and the opportunities for local businesses that Airport City will create." MAG CEO Charlie Cornish added: "We are delighted to confirm organisations of global standing as our joint venture partners. The inclusion of BCEG is significant because as a Group, we have been keen to forge greater links with the Far East and this gives us an opportunity to strengthen vital business links with China. With GMPF on board, Greater Manchester is investing in the future of the North West and Carillion bring sector-leading experience in project finance, delivery and sustainability, both in the UK and internationally. In Argent, we have one of the most renowned developers in its field and by working together as a partnership, we are well positioned to deliver the UK’s first Airport City." [more - original PR] [more - original PR - MAG]

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