A co-owner of the group behind Manchester, Stansted and East Midlands airports has pledged a £3bn investment into the UK over five years.
The money from IFM Investors will be used to maintain the airports as well as the M6 toll while its new net zero fund will support large-scale infrastructure energy transition projects – including in electrification, carbon capture and solar power.
IFM Investors holds a 35.5% stake in Manchester Airports Group while the same amount is owned by Manchester City Council and the rest split between the remaining local authorities.
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It has also been announced that energy, chemicals and natural resources group Worley will expand its UK operations, supporting the energy transition and drive for net zero creating over 1,000 "highly-skilled professional jobs" in the next 18 months in areas including Humberside, Manchester, Leeds, Glasgow and Aberdeen.
The news was released as part of a £28.5bn package of investments from Australian businesses as the Prime Minister hosted a UK-Australia investment roundtable at Downing Street.
IFM CEO David Neal added: "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."
Other investments announced include:
- Top Australian financial services firm Macquarie Group plans to support £12bn of investment by 2030 in infrastructure projects across the UK, including in offshore wind in Lincolnshire and north Scotland, gigabit broadband in rural England and hydrogen hubs in Southampton and Orkney. Macquarie Group has supported more than £50bn of investment in the UK in the last 15 years, backing half of the country’s existing offshore wind capacity.
- Pension fund AustralianSuper forecasts a further £8bn in investments across the UK over the next five years. Among other projects, the funding will support a joint venture with British Land to develop their Canada Water master plan, estimated at £5bn in value on completion.
- Real estate and investment group Lendlease and its partners plan to deliver £5.5bn of investment across its major regeneration projects in London and Birmingham over the next five years, subject to planning permission. This investment is expected to deliver thousands of new low carbon homes, training and employment opportunities for local communities.
- Global green renewable energy company Fortescue Future Industries (FFI) plans to create up to 1,000 new jobs at Williams Advanced Engineering in Oxford, which they acquired in March. The investment will support decarbonisation initiatives and build on the UK’s excellence in engineering.
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.
"The fantastic schemes announced today will turbocharge the Government’s efforts to create jobs and growth in every part of the country, and put the UK at the cutting edge of the green industrial revolution.
"This is Global Britain in action – building new partnerships with friends and allies around the globe to create prosperity at home."
