Heathrow to invest £650M in the airport

Vania Goncalves 31 Mar 2017 EUROPE TRANSPORT INFRASTRUCTURE

Heathrow’s shareholders are to invest an additional £650M in the airport over the course of 2019, the year that the UK is set to leave the EU.

The move is set to ‘send a strong signal’ that the country remains open for business.

Initial plans for the new investment might include enabling works for the expansion of the award-winning Terminal 2 and planning works for a new southern access tunnel for the Central Terminal Area.

John Holland-Kaye, Heathrow’s CEO, said: “The planned investment is great news for Heathrow passengers and for Britain – it will help us build on our success as passengers' Best Airport in Western Europe and further improve resilience at the nation’s hub.”

The airport’s shareholders include the UK pension fund Universities Superannuation Scheme, Ferrovial, Qatar Investment Authority, Caisse de dépôt et placement du Québec (CDPQ), GIC, Alinda Capital Partners of the United States and China Investment Corporation.

Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, chief executive officer of Qatar Investment Authority, said: “Our investment in Heathrow is much more than just an investment in one of the world’s great airports – it’s an investment in Britain’s connections to the world. As the UK reshapes its role in the world, we confirm our commitment as proud partners of a great trading nation."

* For more information on the UK construction market, visit the Construction Intelligence Center Report Store.

* Image credit: BasPhoto/Shutterstock.

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