AS planners of the regeneration scheme for Purfleet-on-Thames forge ahead with the project they have been marketing the scheme at an international conference as they bid to borrow the £1 billion needed to finance the project.

The regeneration of the town which will include the creation of up to 2,850 homes, a new town centre with shops and restaurants and a new railway station is expected to cost a total of £1.3 billion.

The scheme is being delivered by Purfleet Centre Regeneration Limited (PCRL), a partnership between Swan Housing Association, Urban Catalyst and Keltbray, in collaboration with Thurrock Council.

In January this year, PCRL secured £75m funding from Homes England and has now set about the process of financing the rest of the project, which also includes a proposed a 1m sq. ft. 'media village' to support the UK's booming TV and film industry.

PCRL recently appointed leading independent real estate consultancy Knight Frank to help source up to £1bn of debt and equity. They helped showcase the project at the launc h of the UK Global Investment Summit yesterday (Tuesday, 20 October) during which the government's minister for investment Gerry Grimstone said: "Purfleet-on-Thames' £1.3bn regeneration is a testament to the UK's enduring strength as a global hub for investment, built on our competitive economy and cutting-edge innovation.

"The Global Investment Summit demonstrates how we can use inward investment to propel our economy towards a more prosperous, exciting future."

Thurrock Council's cabinet member for regeneration, strategic planning and external relationships, Cllr Mark Coxshall, said: "The government's continued support is recognition of our borough's key role within the national economy.

"Thurrock has always been a hotbed for innovation and these plans will transform Purfleet-on-Thames and will significantly contribute to the borough's wider economic growth ambitions, making Thurrock a healthier and more attractive place to live, work, learn and play. Thurrock is open for business."

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An online presentation encouraging investment in the project can be viewed via this link.