Work to establish construction access, utilities and a new spine road are set to begin on a massive ex-steelworks site after the government approved a £14M investment in the area.
The injection of funds means work to transform the massive 1800ha former steel manufacturing site in Redcar, Teesside into a “world class employment-generating zone and economic growth enabler” will now start.
The redevelopment is being carried out by South Tees Development Corporation (STDC) and overseen by a new mayor for the Tees Valley Combined Authority (TVCA). The establishment of an Mayoral Development Corporation for South Tees is the first to be created outside London.
In preparation for the new development, 40km of new highways will be created along with 50km of freight railway infrastructure improvements, 930ha of brownfield land subject to environmental improvement and 1,000MW of low cost power provision for new businesses will be built.
The scheme will also open up access to 1.3km of “valuable” river frontage, which the STDC said was “pivotal” to the redevelopment of the site, and offered the opportunity for a major increase in port capacity.
Tees Valley mayor and chairman of the STDC Ben Houchen said: “Government has committed £137M to the Development Corporation over the last year, and this latest £14M funding is vital to kick-start immediate work to redevelop land to help spearhead the transformation of the area.
“These huge schemes will deliver hundreds of quality jobs for local people, drive growth for the Tees Valley economy and continue our history of manufacturing excellence.”
The investment will be paid over five years.
Work on the site are due to take place over the next 15 to 19 years, with the first businesses expected to move on to the site in in the near future.
The new instalment is on top of £137M which has already been invested in the South Tees Mayoral Development Corporation which was announced in last year’s autumn budget.
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