20 May 2019
Investment Minister visits Battersea Power Station
Graham Stuart MP, Minister for Investment, visits Battersea Power Station to see the excellent progress being made on the project which is expected to inject more than £20 billion into the UK economy.
Minister for Investment at the Department for International Trade, Graham Stuart MP, visited the Battersea Power Station construction site last week to witness the huge progress that is being made on
the restoration of the Grade II* listed building, a direct result of inward investment by a consortium of Malaysian shareholders.
On the site tour, Graham Stuart MP, met with construction workers from a wide range of trade contractors based in the UK, Europe and more globally. Over £367 million of international contracts have been procured so far from key regions including Europe, the United States and Malaysia.
The recent completion of the £1.6 billion transfer of the commercial assets in the Power Station to long-term asset holders is another demonstration of the continued commitment by the shareholders in the iconic project and the UK more broadly.
Graham Stuart MP, Investment Minister, said:
“It has been fascinating to visit the Battersea Power Station project and see first-hand the
positive impact Malaysian investment is having in the UK.
“This investment has produced real, tangible benefits including creating new jobs and homes,
not just in London, but also further afield. The new 1.3 million brick order from Gloucestershire
and the UK steel fabricator bringing 24,000 tonnes of steel demonstrates the scale of
investment and how the development will support business across the whole of the UK.
“My department will continue to ensure the benefits of foreign investment are felt in all four
corners of the country, and that the UK maintains its position as the number one destination
for FDI in Europe.”
Simon Murphy, CEO of Battersea Power Station Development Company (BPSDC), said:
“On behalf of our Malaysian shareholders, it was a pleasure to have Graham Stuart MP visiting
one of Europe’s largest regeneration projects which is currently employing thousands of
people and businesses on a local, national and international level.
“Since buying the Battersea Power Station site in 2012, our shareholders have invested huge
amounts into this £9 billion project and continue to do so, evidenced by the recent completion
of one of the largest real estate transactions in the UK.
“As well as being a strong indication of the confidence and attractiveness of London as an
investment opportunity, their long-term commitment and unwavering support ensures this
historic building is in safe hands for future generations to come.”
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Once completed, the restored Power Station building will include over 250 apartments, over
500,000 sq ft of office space that will become Apple’s new London Campus and business
member’s club, No18. There will also be over 100 shops, restaurants and cafes as well as
new events space for London. The Power Station will open to the public in 2021 and is at the
heart of the wider 42-acre redevelopment site that is expected to insert over £20 billion into
the UK economy once complete and provide 20,000 new jobs.
Follow @BatterseaPwrStn to keep up with the latest news and events at Battersea Power
Station and visit batterseapowerstation.co.uk to find out more.