Construction News

Wed August 10 2022

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Chinese ownership of UK infrastructure on the rise

14 Oct 13 A Chinese contractor taking a 20% stake in a Manchester business park is just the latest in a series of steps opening up UK infrastructure to Chinese ownership, chancellor George Osborne has said.

Beijing Construction Engineering Group (BCEG) has joined the joint venture behind Manchester’s £800m Airport City project, alongside Carillion, Manchester Airport Group, and the Greater Manchester Pension Fund. (See report here.)

The chancellor is in China this week to promote further Sino-British ties.

Chinese companies have taken stakes in utilities and big infrastructure projects from Thames Water, Heathrow and Talisman Energy as well as the £700m redevelopment at Nine Elms in London by Dalian Wanda Group.

Chinese developer ABP is leading a £1bn redevelopment of the Royal Albert Dock in London and the ZhongRong Group is pitching to rebuild The Crystal Palace.

The Chinese General Nuclear Power Group (CGNP) is also reportedly set to take a 49% stake in the Hinkley Point C nuclear project, alongside EDF of France.

In a related move, the UK government has also announced a relaxation of visa requirements for Chinese nationals visiting Britain.

Mayor of London Boris Johnson is also leading a trade delegation to China this week, with members including Berkeley Group chairman Tony Pidgley.

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