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            september 19, 2019

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Heathrow shareholder pledges to invest US$21.6 billion to expand airport


British Prime Minister Theresa May has received a letter from the Universities Superannuation Scheme CEO Bill Galvin to encourage the government to give the green light to London Heathrow airport's plans to build a third runway, according to Shipping Gazette.
Mr Galvin noted that "under the stewardship of the ownership consortium, Heathrow has been transformed, with private investment of more than GBP11 billion (US$14.548 billion) over the last decade.
"It is now a world-class airport that Britain can be proud of," said the letter, "Alongside our investment partners, we stand ready to invest GBP16 billion ($21.16 billion) of private money into expanding Heathrow."
Said grateful Heathrow Airport CEO John Holland-Kaye: "At a time of uncertainty, a GBP16 billion privately-funded infrastructure investment will create jobs and growth across the UK."
Recently, Heathrow confirmed that the airport accepted the conditions laid out by the UK Airports Commission with regards to the potential construction of a new runway at the gateway.
Tough targets on air pollution and noise will be met, Heathrow Airport Limited insists. Heathrow's operating authority also accepted the restrictions on night flights through the airport as set out by the Commission.

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