Chinese company invests £5.2bn in UK projects
Chinese investment group SinoFortune has plans to invest over £5 billion in UK projects. Two UK pro…Chinese investment group SinoFortune has plans to invest over £5 billion in UK projects.
Two UK projects are: £2 billion in Orthios Eco Parks in order to develop waste power and food stations in Holyhead and Port Talbot in Wales, and £3.2 billion in developing an amusement park in Ebbsfleet, Kent.
Development of the amusement park will begin 2017 and should be completed by 2020.
The two power plants in Wales will be developed over the next 3 years. The plants will take waste heat from power stations and will be used to warm water for king prawn farming and other types of seafood such as Dover Sole. This process can also be used to help grow vegetables. The system will also be able to capture carbon dioxide emissions.
The 299 megawatt plant in Holyhead will employ at least 500 people, as will the 349 megawatt plant in Port Talbot. Thousands more people will be employed in building the plants too.
In exchange for the investment, Orthios Eco Parks will source between 50% and 60% of the materials and components needed to build the plants from China. "We have spent five years researching and developing this model and the investment from China will help us role it out across the planet" said Orthios Chief Sean McCormick.
SinoFortune also revealed this summer, a £250 million agreement with The London Group to invest in tourist infrastructure in the UK.