Blackstone, a leading private equity firm, has officially announced a significant investment of £10 billion to develop a state-of-the-art AI data centre in North East England, which is projected to generate approximately 4,000 jobs in the region.
The project will see construction begin next year in Blyth, Northumberland, making it one of the largest data centres in Europe. Blackstone acquired the land earlier this year after Britishvolt’s attempt to establish an electric car battery factory on the site fell through. The firm’s proposal for a “hyperscale” AI data centre received regulatory approval last month.
In addition to the job creation—1,200 of which will be for the construction phase—Blackstone is pledging £110 million to a fund aimed at enhancing skills training and transportation infrastructure in the vicinity.
Jon Gray, President and COO of Blackstone, remarked, "The UK is a key investment target for us due to its compelling mix of talent and innovation, complemented by a robust legal framework."
UK Prime Minister Keir Starmer emphasized the importance of this investment, declaring, "The commitment we’ve announced with Blackstone today signifies a strong endorsement of the UK’s potential and highlights our return as a significant player on the global stage, clearly indicating that Britain is open for business."
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