The CI-ONE Construction joint venture (JV) has been selected to build a £550 million development in London.

The JV between Interserve and China State Construction Engineering Corporation (CSCEC) will develop the One Nine Elms scheme in Battersea.

The contract was awarded by Chinese developer Dalian Wanda.

The project features residential, hotel and retail space including a new Embassy for the United States of America, the regeneration of Battersea Power Station, a new business district and a centre for arts and culture.

-- Advertisement --

Housing for over 30,000 people will also be provided.

Two towers will be developed containing 57 and 42 storeys to house 494 apartments.

A 187 room hotel will also be built with more than half of the site allocated to outdoor space.

Adrian Ringrose, Interserve’s Chief Executive, said: "We look forward to working with Wanda and CSCEC and putting our expertise to use on this prestigious development, one of the largest and most exciting urban regeneration projects in Europe."

Works on the scheme have already begun.

The demolition phase is nearing completion while piling works scheduled to begin.

One Nine Elms will be the first UK development project by Wanda One, a subsidiary of Dalian Wanda.

(LM)