Private equity giant Blackstone has confirmed plans for a £10bn investment in an AI data centre located in the North East of England, which is expected to create approximately 4,000 jobs.
Construction on the site, which will be one of Europe’s largest data centres, is scheduled to begin next year in Blyth, Northumberland, according to Finextra.
Blackstone acquired the land earlier this year after the collapse of Britishvolt, which had intended to build an electric car battery factory there. The proposed “hyperscale” AI data centre received approval last month.
In addition to creating 4,000 jobs, including 1,200 positions related to the construction phase, Blackstone has pledged £110m to a fund aimed at supporting skills training and improving transport infrastructure in the region.
Jon Gray, Blackstone’s president and COO, commented, “The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system.”
UK Prime Minister Keir Starmer added, “New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.”
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