Chinese construction giant to invest £1bn in Sheffield

Grant Prior 4 years ago
Share

Sheffield City Council has agreed a £1bn investment deal with China’s Sichuan Guodong Construction Group.

The deal is signed in Chengdu
The deal is signed in Chengdu

The first £220m tranche of cash will fund four or five Sheffield city centre projects over the next three years.

The council said the “exact projects that the investment will fund are yet to be determined.”

The 60-year partnership deal was signed during a trade visit to Sheffield’s sister city of Chengdu.

Councillor Julie Dore, Leader of Sheffield City Council, said: “This is the biggest Chinese investment deal to be made by a UK city outside of London.

“And perhaps more importantly it is first deal of its kind to be made by a UK city.

“This is a real partnership. 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.

“At a time of unprecedented uncertainty and turmoil on the national political scene, we have taken the bull by the horns and led by example here in Sheffield. We have the skills and the connections to drive economic growth in our city.”

Councillor Leigh Bramall, Deputy Leader of Sheffield City Council, said: “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.”

Latest news

BAM to make 150 staff redundant

Drop in demand set to impact 2021 revenue
12 hours ago

“Builders stars of the economy” as construction rebounds

Latest buyers survey shows sharp turnaround in output as lockdown eases
18 hours ago

Flannery trials first electric tele at HS2 site

Skanska Costain Strabag JV to roll out more machines across HS2
17 hours ago

Morgan Sindall stars in £250m Glasgow Uni framework

University confirms nine construction partners
4 hours ago

Barratt uncovers weak concrete frames at seven high rises

House builder faces £70m bill to remediate high rise flats
21 hours ago

McAleer & Rushe starts £68m Birmingham resi tower

37-storey build to rent tower forms part of £120m Exchange Square 2 scheme
19 hours ago

CPUK went down owing suppliers more than £9m

Construction Partnership UK Limited brought down by bad debts and Covid-19
21 hours ago

Wates resumes full pay for all staff not on furlough

Chief praises staff for great professionalism in the most challenging of conditions
4 days ago

First net-zero carbon London office project approved

Mace advising on £160m project to expand and retrofit former BT HQ
22 hours ago

Interserve to start £27m Oldham school job

Work starts this month on Saddleworth secondary school
19 hours ago

Construction start date for latest Manchester resi scheme

Work to begin early next year at Bowler’s Yard
20 hours ago

£120m rescue package for stalled arts sites

Cultural rescue programme to restart work on theatres, galleries,museums and cinemas
1 day ago

Canary Wharf Contractors could cut 100 jobs

Another round of redundancies as projects come to an end with no replacements in pipeline
4 days ago

Tower crane lifts end long climb to work for operators

Laing O'Rourke trials mast climbing lifts for tower crane operators at London site
4 days ago

Keep the industry updated by joining the Enquirer Directory

Membership lets construction know you are open for business now or in the future
2 years ago

Government agrees £30m bailout for rebar giant

Emergency loan to Celsa secures rebar supplies to construction
4 days ago

Plans go in for 2,200-home Oxfordshire garden village

Sustainable scheme will also include new schools and manufacturing space
5 days ago

Winvic raids Graham Construction for civils boss

Rob Cook joins as civils and infrastructure director at Winvic
5 days ago

Work with the Enquirer to help your post Covid recovery

Promote your business now to grab a bigger market share as construction bounces back
3 weeks ago

HS2 rebids £300m overhead power system

Bidding starts for first overhead lines powering trains to operate at 360km/h
5 days ago

Sisk seals £150m Santander campus in Milton Keynes

Biggest building contract signed off during restricted covid working
5 days ago

Builder wanted for £35m Forth Bridge tourist attraction

Contract to build bridge walkways and viewing platforms to be awarded before the end of 2020
5 days ago

JCB powers up first hydrogen fuelled digger

JCB in race to lead the world on hydrogen-powered plant
5 days ago

Construction site death rates on the rise

Latest HSE figures show 40 construction fatalities last year
6 days ago

Construction firms urged to claim millions in tax rebates

Research and development tax credits available - find out if you can claim
5 days ago

Plans in for £150m South Kensington Tube station scheme

Native Land and TfL advance scheme to revamp west London Underground station site
5 days ago

Hotel plan for Lincoln department store aproved

Town centre House of Fraser will be demolished for a 150-room hotel
4 days ago

Site canteens to re-open under latest guidelines

Latest Site Operating Procedures guidance allows limited 1m-plus distancing with risk reduction measures
6 days ago

Kier eyes rights issue as debt rises to £440m

Debt rises again as Kier feels impact of Covid-19
6 days ago

Willmott Dixon unveils plan for 5% staff cut

Private builder seeks voluntary redundancies as revenue set to drop 20%
6 days ago

Contractor services