Image by David Sim
The new owners of Battersea Power Station have announced plans for the £8bn redevelopment of the site.
It is expected to provide 20,000 construction jobs and 13,000 permanent jobs, and will form a mixed development with homes, office space, a hotel and retail space.
The Northern Line will be extended with a new transportation hub at the Power Station site.
Work is expected to begin in mid-2013, and the estimated £8bn cost of the redevelopment is on top of the £400m initial investment due for completion on September 4.
The announcement was made on the opening of the Global Investment Conference at the British Business Embassy.
Mayor of London, Boris Johnson, said: “It is brilliant that this historic landmark that helped power London for much of the 20th century will be at the centre of this huge regeneration project that will also help power the capital to even greater economic prosperity in the 21st.
“That is why, for the next month, I have transformed City Hall into ‘London House’, our showroom to the world, where wealthy International investors will be able to gather to see and hear why the best returns can be found in our great city which offers everything to ensure businesses not only succeed but thrive in the global market.”