Work on a world-class exhibition centre and hotel on Liverpool's waterfront is underway, according to the Liverpool Express.

Mayor of Liverpool, Joe Anderson, visited the construction site of the £40m Exhibition Centre Liverpool and £26m integrated hotel at Kings Dock on Monday 17 February. He was joined at the site by Bob Prattey, chief executive of ACC Liverpool; David McDonnell, chairman of ACC Liverpool; and Alan McCarthy-Wyper, managing director of ISG Construction, to see the scheme beginning to take shape.

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It is a significant milestone in the city's plans to become a leader in hosting large scale trade and consumer exhibitions.

The 8,100 sqm, three-hall exhibition centre and the 216-room 'headquarters' hotel will form part of ACC Liverpool, home to BT Convention Centre and Echo Arena.

The Exhibition Centre is being delivered at no cost to council taxpayers. Funding is raised through borrowing, paid for through income generated by the centre. This type of capital borrowing is similar to a mortgage and cannot be used to fund day-to-day services, but can be invested in developments which bring economic benefits. The city council is using this ‘invest to earn’ approach to drive forward new developments, with any surplus ploughed back into providing services.

With work now underway, the new facilities are expected to be open for business by summer 2015.

(CD/MH)