'King's Cross completion shows us Britain knows how to deliver', says infrastructure minister

HM Treasury

September 26
11:21 2013

Thursday 26 September sees the final part of the redevelopment of Kings Cross station, which received 500m of public funding and has led to 2.2bn of private investment in a previously derelict and disused 67 acre site.

The redevelopment is one of the governments priority infrastructure investments and is a key part of its plan to give Britain the infrastructure it needs to compete in the global race.

Commercial Secretary to the Treasury, Lord Deighton, who is responsible for infrastructure delivery, has emphasised how the redevelopment of Kings Cross is evidence of the governments long term approach to infrastructure investment.

He said:

Kings Cross is one of the most significant infrastructure and regeneration projects in the UK over the last decade and among the top infrastructure priorities for the government.

Through Network Rail we have invested in the region of 500 million redeveloping and restoring the station, without which it simply wouldnt be possible to keep up with growing passenger numbers over 25 million use the station every year, travelling as far as Leeds, Edinburgh and Inverness.

The project shows that the country is getting on with delivering major projects and how important fast and reliable transport links are to investors and businesses. The site has attracted over 2.2 billion of private investment. Google, BNP Paribas, University of Arts London and others are building a future in what has become a thriving area of London. 45,000 people are soon set to work, live and study at Kings Cross.

The new Kings cross Square was officially opened on 26 September 2013 by the Secretary of State for Transport, Patrick McLoughlin, Mayor of London, Boris Johnson and chief executive of Network Rail, David Higgins.

Lord Deighton went on to say:

Network Rail has done a marvellous job at Kings Cross. The transformation would not be complete today without the governments support for long term investment decisions and the prioritisation of key strategic infrastructure projects such as this through the National Infrastructure Plan. I want to ensure that across government there is an equally strong focus on improving the delivery of vital infrastructure projects so that the UK remains globally competitive.

Weve set out what needs to go ahead, and were making these projects happen. Kings Cross shows us Britain knows how to deliver.

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