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Thames Gateway to get £4 billion of private-sector cash

The Thames Gateway is set to receive more than £4 billion in private-sector investment as it aims to complete a number of key infrastructure schemes.

The London Thames Gateway Development Corporation (LTGDC) has shortlisted eight major projects in the Lower Lea Valley and London Riverside, which it will focus on during the remaining eight years of its operational life.

Peter Andrews, LTGDC chief executive, said: 'Completion of these major infrastructure projects will deliver a step change in the volume of private-sector investment in these two key growth areas and will go some way to justifying the faith shown by the government in the whole Thames Gateway vision.'

The corporation has £100 million of public-sector investment to invest until March 2008, but further funding for the following three years is subject to the government's comprehensive spending review, which is not expected until the summer next year.

Andrews added: 'As a limited-life regeneration organisation it is critically important that our funding is increased during the middle stage of our lifecycle, as that is the only way we can deliver the predicted outcomes in the time we have been given.

'Our eight key projects offer a real return on the required public investment and will ensure the conditions are created to deliver our target of 40,000 new homes and 28,000 new jobs by 2016,' he added.

by Richard Vaughan

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