News

£10 Million For Twin Sails Bridge

A multi-million pound investment in Poole's Twin Sails Bridge scheme has been approved by the South West Redevelopment Agency .

The announcement means construction work on the £40 million scheme to deliver a second harbour crossing for Poole could start before the end of 2009.

The South West Redevelopment Agency (SWRDA) board approved the investment of £9.96 million at a meeting on Monday 15 December.

Borough of Poole submitted a successful bid for funding from SWRDA's £80 million Regional Infrastructure Fund (RIF).

Cllr Brian Leverett, Leader of the Council, Borough of Poole said: "Poole has been striving for a second harbour crossing for fifty years and at last we have a means by which we can deliver it. The news is particularly welcome at this time, generating employment opportunities as well as long term economic prosperity and much needed homes."

Cllr Ron Parker, Cabinet Portfolio Holder for the Economy, Borough of Poole, said: "It is a great achievement to gain this support and vote of confidence from the SWRDA, which will enable the residents of Poole to have a long awaited second crossing. The iconic bridge will create enormous opportunities for Poole and we are delighted with the news."

Construction of the bridge will offer the opportunity to retain skilled labourers and professionals in the South West.

Nick Buckland , RDA Board member and chair of the RIF investment panel said: "This investment represents a major step forward in the delivery of the Twin Sails project. It is exactly the sort of project that the Infrastructure Fund was set up to support. The Investment Panel was impressed by the commitment of the council to making this scheme happen. This investment will be a welcome boost for Poole and the whole region. It will enable the full business potential to be unlocked, protecting and creating jobs and enabling businesses to mitigate the worst aspects of the economic crisis. In time it will help the economy to chart a course for recovery."

The council will repay SWRDA's investment using proceeds from the future development of regeneration sites, including the former Hamworthy Power Station. The Department for Transport has already approved a £14.1 million investment in the Twin Sails Bridge scheme. SWRDA's approval is subject to the council finalising agreements with the landowners Gallagher Estates and Land Improvement Holding Ltd.

David Carden, Managing Director of Gallagher Estates, said: "We welcome the decision of the Regional Infrastructure Fund Panel and look forward to working closely with Borough of Poole in 2009 to ensure the timely commencement of the Twin Sails Bridge Initiative. Gallagher Estates and Lands Improvements Holdings remain committed to the regeneration of the former power station site and see the new bridge as a catalyst for achieving this."