Realignment of a section of a major road in Osmaston is being proposed to accelerate the delivery of the Infinity Park Derby Enterprise Zone.
The project, if agreed by Council Cabinet at their meeting on Wednesday 5th October, will see the closure of the eastern end of Victory Road and the construction of a new road around the perimeter of the Rolls Royce site on land transferred into Council ownership.
The cost of the road construction is estimated at £7.35m. Derby City Council is contributing £2m of grant funding from D2N2 Local Enterprise Partnership Local Growth Fund Round 1 while Rolls Royce will provide £5.35m. There is no capital contribution to the project by the Council.
The realignment will support the expansion and modernisation of Rolls Royce’s Aerospace Campus which will house research, engineering and office facilities in a multi-million pound investment.
Leader of Derby City Council, Ranjit Banwait, said:
“As a city we know how important local companies like Rolls Royce are to the prosperity of our city and as major employers. Many of us know people working there. By supporting Rolls Royce with the plans will create a modern campus that will ensure the Derby based company continues to compete globally at the highest level for generations to come. This is a priority for the Council.”