Business leaders welcome Qatari interest in Birmingham Curzon project

BUSINESS leaders in Birmingham have welcomed reports suggesting the Qatari royal family may invest in the HS2 high-speed rail project in Birmingham.

It is suggested the Qataris are planning a massive investment in UK infrastructure and in particular regeneration projects surrounding the major hubs of the proposed HS2 high speed rail line, such as Birmingham Curzon Street.

Reports in The Financial Times claimed the Qataris had informed the Prime Minister of their intention to try and invest in such large scale schemes during a recent visit to the UK.

The newspaper claimed that while talks were at an early stage, both sides were keen on doing a deal. The move fits in with the Government’s aim of encouraging overseas investment in transport infrastructure schemes.

The FT said the project at Curzon Street, which will be the hub of the high speed rail network, appeared to be attracting particular interest.

Curzon Street would become one of the largest new stations in Britain for over a century and the associated scheme includes a plan to build 2,000 homes and 600,000m² of office space in the area.

Jerry Blackett, chief executive of Greater Birmingham Chambers of Commerce (GBCC), said: “We should celebrate that any major development in Birmingham attracts global interest so it is no surprise that Curzon Street is attracting widespread attention. It was always the case that HS2 would need to be backed by private investment.”

Qatar opened talks with the Treasury last year  to invest up to  £10bn in key infrastructure projects such as energy plants, transport schemes or the Thames “super-sewer” under London.
 
The Qataris are also trying to take over Songbird Estates, the group that owns London’s Canary Wharf, to add to other holding in London, including Harrods and Chelsea Barracks.
 
“The prospects of Qatari investment is compelling and on the face of it something which will doubtlessly be pursued with vigour along with any other expressions of interest,” added Blackett.
 
Support for HS2 has grown among the business community in Greater Birmingham, with over 80% saying the project will have a “significant or slight positive” impact on the region, according to a chamber survey.