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NOW THE BANKS JOIN IN THE MILLENNIUM BONANZA
EXHIBITION HOPES GET BIG BOOST FROM BRITAIN's BIG BANKS
Greenwich 22 July 1996
Five major British clearing banks today backed Greenwich Millennium celebrations plans, as work began to transform a 300-acre former British Gas works into an international showcase.
Deputy British Prime Minister Michael Heseltine visited the derelict site and announced that the following banks had announced financial support for the project:
- - Group
Mr Heseltine said he was confident the exhibition would boost Britain's prowess in the fields of engineering and sciences.
The managing director of Port Greenwich Ltd, the company in charge of the site, said the work was ``a flagship for urban regeneration. The task of reclamation and regeneration which British Gas has started today will enable this currently derelict site to become a permanent legacy of environmental improvement for the 21st century.''
The Deputy British Prime Minister said he hoped other businesses would follow the banks' initiative and help pay for the international showcase planned for the site.
The GBP 15 million (cUSD 22 million) clean-up of the contaminated site on the northern tip of the Greenwich peninsula is due to take 26 weeks, according to a Port Greenwich spokesman
Work started today on 60 acres, including dismantling massive tar tanks, some of which date back to early last century.
The contaminated material will be transported to a site in Bedford for disposal. The site will only be partially cleared, with some spoil used to fill in the vast tank spaces. The work is said to be "on target to have the Exhibition completed by the summer of 1999.''
Mr Heseltine said he believed Britain wanted to make a major statement about its expertise and that people would back the Millennium exhibition.
Newsource: PA News & London
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