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Manchester Airport is to benefit from investment as Australian firms announce a £28.5 billion total investment into UK businesses.
IFM Investors, which owns a 35.5% stake in Manchester Airports Group has committed to a £3 billion investment over the next five years, which will help maintain the group’s existing assets in the UK, which include Manchester Airport, and outside of its MAG holdings, the M6 Toll motorway. The investor has also announced a new net zero fund to invest in large-scale green energy projects in the UK, including carbon capture schemes, solar power and electrification.
IFM CEO, David Neal, said:
“IFM is owned by pension funds and invests, over the long term, on behalf of pension funds, their members, and other long term investors. We have been investing in core UK infrastructure for decades and now are planning to almost double our investment over the next five years.
“We believe the deployment of pension capital in partnership with the UK government will be critical to supporting the UK’s energy transition and net zero ambitions over the next 25 years.”
Elsewhere in the region, Australian engineering group, Worley, also announced it would expand on its UK operations, including at its Greater Manchester site in Heald Green, boost its role in driving investment to achieve net zero. The business is set to create over 1,000 new jobs across the North of England and Scotland in the coming 18 months.
The combined £28.5 billion investment package from Australian businesses comes following 10 CEOs and business leaders from the country were hosted by the Prime Minister and International Trade Secretary at a roundtable event to strengthen Anglo-Australian trade relations ahead of the signing of a new Free Trade Agreement.
Prime Minister Boris Johnson said:
“I’m proud that some of Australia’s leading businesses have chosen to invest in the UK, recognising opportunities across the globe in our dynamic and forward looking economy.”
Other major investments from Australian businesses announced following the discussions include Macquarie Group’s £12 billion investment into the National Grid, £5.5 billion investment into low carbon homes and regeneration projects in London and Birmingham from Lendlease, and £8 billion investment into a range of projects by pension fund AustralianSuper.