PLANNING PERMISSION has been granted for the development of the first phase of the €1.4 billion Europe China Trading Hub in Athlone, Co Westmeath.
It is envisaged the Europe China Trading Hub will serve as an exhibition centre where buyers from Europe and the US could source Chinese products.
Westmeath County Council has granted permission for phase one of the Chinese-backed development on a 78-acre site at Creggan on the east side of Athlone.
Athlone Business Park Ltd was successful in obtaining permission for the development, subject to 47 conditions which, when finished, planners say could attract 1.5 million visitors a year.
If completed, the trade hub will become the largest source of Chinese goods to be found anywhere in Europe, housing 3,000 demonstration halls and employing 9,000 people.
An estimated 1,500 people will be employed in the €175 million first phase of the five-phase development.
The total project will cost €1.4 billion and covers 337 acres.
Yesterday’s planning decision paves the way for the construction of 102,348sq m of the development, including two “curved roof mega exhibition halls” each of more than 30,000sq m, with 270 display areas.
A further nine exhibition halls covering 22,168sq m, a four-storey reception building and the 12,825sq m dome roofed “China Hall” have also been approved.
The plans also include the hub’s waste-management centre. Parking for 1,370 cars and 18 bus bays are also provided as part of the development.
Further plans for the international trade hub will include a new railway station, hotels, restaurants, a theatre, leisure centre and a school.
All goods at the hub in Athlone will be despatched from China or centralised depots to customers. It is envisaged that, in the main, buyers will be placing bulk orders on behalf of large dealers.
An emphasis will be place on showcasing high-quality goods ranging from electric cars to fabrics and machinery.
Backers say the project will “revolutionise the way in which Chinese products and economies of scale can be brought to market”.
There will also be provision in the development for the promotion of Irish tourism, manufactured goods, technology and agricultural produce on the international stage.
“This project will become the largest European source of Chinese-branded goods in Europe,” backers said in a submission to Westmeath County Council.
“Tens of thousands of export-oriented enterprises and products from China will be displayed and traded here.”
To date about €3 million has been spent on planning for the project.
The chief executive of Athlone Business Park Ltd, John Tiernan, was delighted at the planning decision and expressed confidence that, in spite of the economic situation, he and its backers in China could now go ahead with the development.
He said financing of the project would be achieved through a combination of private capital and pre-sales of the units in China.
He described the appetite for such ventures in China as tremendous, where he said there were similar models already in existence.