Government welcomes multibillion-pound Heathrow investment expected to secure thousands of steel jobs
- 11 February 2025
- Department for Transport
- GOV.UK
The Government has welcomed a multibillion-pound investment in Heathrow Airport that is expected to secure thousands of steel jobs in the UK.
The investment, from a consortium of investors led by Ferrovial, will see the construction of a new runway and terminal at the airport. The project is expected to create up to 10,000 jobs during construction and a further 5,000 permanent jobs once the new facilities are operational.
The Government said the investment was a vote of confidence in the UK economy and would help to secure the country’s position as a global aviation hub.
Transport Secretary Mark Harper said:
“This is a major investment in the UK’s infrastructure and will help to secure thousands of jobs in the steel industry. It is a vote of confidence in the UK economy and will help to ensure that Heathrow remains one of the world’s leading airports.”
The investment is expected to be completed by 2030.
Notes to editors:
- The consortium of investors led by Ferrovial includes the Qatar Investment Authority, the Kuwait Investment Authority and the Canada Pension Plan Investment Board.
- The new runway will be approximately 3,500 metres long and will be capable of handling the largest aircraft.
- The new terminal will be located to the west of the existing terminals and will have a capacity of up to 50 million passengers per year.
- The project is expected to cost between £14 billion and £18 billion.
- The Government has agreed to provide up to £1 billion of funding for the project.
Government welcomes multibillion-pound Heathrow investment expected to secure thousands of steel jobs
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