Government pitches Powerhouse schemes to China

Seven North West projects have been included in a 13-scheme pitchbook of Northern Powerhouse projects, offering £5bn of opportunities to Chinese and international investors.

The portfolio was presented yesterday as part of the eighth UK-China Economic & Financial Dialogue, a two-day series of events attended by Chinese vice-premier Ma Kai.

Chancellor Philip Hammond, supported by Northern Powerhouse minister Andrew Percy and international development secretary Liam Fox launched the showcase of schemes.

The North West projects included in the portfolio are the Future Carrington former Shell refinery site in Trafford; Liverpool Waters; MediaCityUK; Pall Mall in Liverpool; Peel Environmental’s energy-focused Protos in Ellesmere Port; Stockport Exchange; and Kampus, the Henry Boot Developments and Capital & Centric project in Manchester. The JV partners already have forward funding secured from Ares Investment Management.

Hammond said: “As we seek to take UK-China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse.

“This portfolio, opening up billions of pounds of investment-ready projects to Chinese investors, will support our work to grow and create jobs across the north, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain.”

Alongside the portfolio, the Department for International Trade confirmed that it is working with 15 Chinese investors on property and infrastructure developments across the north.

Myles Kitcher, managing director of Protos, said: “We’ve been an enthusiastic advocate for the Northern Powerhouse. Protos has already progressed significantly, with new road infrastructure and energy facilities creating a destination for energy, industry and innovation.”