KUALA LUMPUR: Malaysian consortium Battersea Power Station Development Company (BPSDC) is confident of completing the first of its seven-phase, £8bil (RM60bil) Battersea Power Station redevelopment project in London by October next year.
BPSDC chairman and Sime Darby Property
deputy managing director Datuk Jauhari Hamidi said phase one was on track with the company having completed 70% of it.
“We still have until October to complete the rest. With the commitment and progress from the contractors, we believe the deadline can be met, and will serve as a key milestone for us,” he added.
He told reporters this at the seminar on “Working with Battersea Power Station Development Company UK” in Kuala Lumpur on Wednesday.
The Battersea project involves the redevelopment of 15.78ha of the Battersea Power Station in London by the consortium comprising SP Setia, Sime Darby Bhd and the Employees Provident Fund.
It will lead to the creation of 3,500 new homes, shops, cafes, restaurant and offices.
The Battersea project is into its third year and expected to be completed in 2026.
“This, to a certain extent will erase the doubts when we first started, as to whether a consortium made up of three Malaysian entities, could actually run the project,” Jauhari said.
On the current progress of the whole project, he said, the company had launched three of the seven phases so far.
“With this achievement, launches for the future phases of four to seven, are expected to progress smoothly,” he added.
Jauhari said he was confident that given the current property prices in London, Battersea could be the launchpad for future projects in the UK and Europe.
“The whole Battersea redevelopment is being supported by the transport plan for London, with the underground Northern Line extension being built on our site.
“We are not going to launch the subsequent phases until we deliver all of the first three,” he added. - Bernama