£8bn redevelopment of Battersea Power Station to generate 33,000 jobs

The UK Prime Minister David Cameron has announced that the redevelopment of Battersea Power Station is to generate 20,000 construction jobs and 13,000 permanent jobs and cost £8bn to complete. Cameron made the statement prior to a government-organised investment conference in London today.

He also said that he expects over £1bn of deals to be revealed this summer as investors cash in on the influx of business generated by the London 2012 Olympic Games. Cameron commented: “I’m delighted at the news today about one of the big deals we were pursuing when I was in Malaysia. Battersea Power Station is one of the iconic landmarks in London.”

Battersea Power Station has been purchased for £400m by a Malaysian consortium consisting of SP Setia, Sime Darby and Employees Provident Fund (EPF) with SP Setia and Sime Darby taking 40% of a new holding company and EPF taking a 20% share.

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