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RAVENSCRAIG'S REBIRTH LOOMS IN UK'S BIGGEST REGENERATION SCHEME

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Seven years after the closure of British Steel's Ravenscraig works, outside Motherwell, a new town is to be built o...
Seven years after the closure of British Steel's Ravenscraig works, outside Motherwell, a new town is to be built on the site at an estimated cost of£600m, in the largest regeneration

scheme in the UK, reported Sunday Business (p7).

The project is expected to create more than 6,000 jobs by the time it is completed in 2014. British Steel has spent£25m cleaning up the site, which it still owns. Public money has been made

available through the Lanarkshire Development Agency, the government-funded local regeneration body. Crucially, private sector cash is about to be secured with housebuilder Wilson Bowden set to be appointed as the scheme's lead developer.

About£12m of government and European Union money has already been spent on the site.

The LDA says another£500m of investment is required.

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