More than 5,000 jobs will be created as a result of a five-year, £1.1 billion investment at London Stansted Airport. The plans were unveiled by UK Prime Minister Keir Starmer at the leading International Investment Summit in London and will see Stansted Airport unleash the potential of its runway by expanding its existing terminal.
The funding will expand the existing terminal by a third, securing new air routes to key business and holiday destinations – strengthening local supply chains and further strengthening UKIts position on the international scene.
The investment consists of £600 million to expand the terminal, with a further £500 million to improve the existing terminal and wider airport property.
It will also deliver a 14.3MW on-site solar farm at Stansted Airport, which will support the airport’s existing and growing electricity demand. This comes after the recent construction of a new forecourt for charging electric cars at the airport.
Manchester Airports Group (MAG), owner of London Stansted Airport, is in the final stages of the procurement process, with construction expected to begin in 2025. The project will take between two and three years to complete.
We have been steadfast in our commitment to helping British businesses grow and thus strengthen their economy UKIts economy. British Transport Minister Louise Hay said that this announcement is a clear signal that Britain is open for business. “Transport is central to this Government’s core mission of growing the economy. This is about giving companies like Manchester Airports Group the confidence to invest, boost regional and national economic growth and support the aviation sector while also meeting our existing environmental commitments.
“By investing more than £1 billion in Stansted Airport over the next five years, we will be able to connect people and businesses in London and the East of England to more global destinations, while welcoming millions of additional visitors to Stansted Airport. “UK,” said Ken O’Toole, CEO of MAG. “We are proud to invest in our infrastructure in a way that will create jobs and stimulate trade, investment and tourism. Aviation is an essential enabler of success UKKey high value industries, we look forward to helping the government achieve the highest sustainable growth in the G7 through the sustainable growth of our airports.
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