Britain coughing up £660,000 to Nanjing to help restart MG-Rover factory
From the "Who-didn't-see-this-coming" file comes word that British government officials have agreed to shell out some £660,000 ($1.16M USD) in grants to Nanjing Automobile in order to re-light the fires at MG-Rover's dormant Longbridge plant. The funds will come courtesy of the West Midlands Development Agency, as well as the Birmingham City Council, with the money earmarked for a waste treatment plant. Nanjing will match the cash infusion on a dollar-for-dollar basis.
In other news, the ongoing investigation into the automaker's collapse will result in a report detailing the financials of Phoenix Venture Holdings (the company in control of the marque when it went under), but interestingly, said findings won't include details of the months leading up to the carmaker's demise.
[Source: 4Car Channel 4 News]
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Reader Comments (Page 1 of 1)
hahahaha 1:34PM (2/25/2006)
so OWNED!
hey Poms - bow down to your chinese overlords!!
hahahaha
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MacroEQ 3:06PM (2/25/2006)
It's a disgrace that Rover was allowed to collapse by the Labour government in the first place and I hope that some kind of normality can resume for the workers who lost their jobs.
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Jack Yan 11:45PM (3/12/2006)
Lets not forget, either, that SAIC and the NRDC (the Red Chinese government agency) allowed the collapse to happen in the first place so the former could try to get the company in a fire sale. Yes, by all means criticize the British endbut we need to remember that the Brits were not alone in being less than stellar in their behaviour.
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