Work at the the former proposed site of the doomed Britishvolt battery plant will create 1,200 construction jobs.

Building work is expected to begin next year with Blackstone also investing £110m on improving transport infrastructure in the area.

Jon Gray, President and Chief Operating Officer of Blackstone, said: “The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system.

“We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy.

“This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.”