City Council of Sheffield, a city and metropolitan borough located in South Yorkshire in England, has agreed a 60-year partnership with Sichuan Guodong Construction Group headquartered in China, reports Belfast Telegraph.
According to the city authorities, the first tranche of financing in amount of £220 million, which was stipulated in the agreement, will be allocated up to 5 city projects within the next three years. However, the city authorities haven’t specified yet, which projects would receive the investment.
As council leader, Julie Dore, put it, that would be the biggest Chinese investment deal to be made by a UK city outside of London and is the first such deal to be made by a British city.
This measure will allow to create thousands of additional jobs for residents of Sheffield.