Paramount resort in Kent: Chinese companies could get preferential access to contracts in exchange for investment

By   November 7, 2016

Chinese companies may get preferential treatment for contracts to build a £3.2 billion entertainment resort in Kent in exchange for future investment.

David Testa, chief executive of London Paramount, said Far East investors were delaying putting in cash for the theme park and hotel complex until they could discuss joining the supply chain for the project. So far, 900 companies have registered an interest, many of them in Britain.

However, he said the decision to leave the EU had given a boost to the plans as investors predicted a growth in ‘staycations’ post-Brexit. It comes as newly-filed accounts show the Kuwaiti backers of the scheme ploughed £35 million into the planning process for the project last year.

London Resort Company Holdings, the developer of the resort set to be built on the Swanscombe Peninsula between Gravesend and Dartford, announced an initial investment of £100 million from Chinese investment group SinoFortone last October.

For the full article go to Kent Online.

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