Northumberland County Council is set to consider a multi-million-pound deal that could see a site earmarked for a collapsed electric vehicle battery factory sold.
Britishvolt had planned to build a £3.8bn car battery factory in Cambois, Northumberland, before going into administration in January.
The council’s cabinet will next week consider amending the buy-back option on the Northumberland Energy Park (NEP3) site in exchange for up to £110m from private equity firm Blackstone.
Council leader Glen Sanderson said the deal offers a ‘huge boost’ to the regeneration and renaissance of the local area.
He continued: ‘The project would represent a significant inward investment of up to £10bn, putting our county at the forefront of developments in the digital economy, and delivering over 1,600 direct jobs, including 1,200 long-term construction jobs, and over 2,700 indirect jobs over the course of the development.’
