Edinburgh rivals
the Big Apple
with 'audacious'
plan for building
at Granton
AN ''audacious'' international business plan by an Edinburgh development company has resulted in the city being granted permission to set up its own World Trade
Centre, with a potential for more than 1500 jobs.
Edinburgh Waterfront, which announced details of the plan earmarked for the Granton area last night, was granted a licence from the World Trade Centres Association (WTA) at its general assembly in Boston in April.
The #25m to #35m building, due to open in 2004, will have about 200,000sq ft of floorspace and will be a centre for international trade missions as well as a base for international trading and business.
The futuristic building, which is to be built on a 400-acre business site, will be the second World Trade Centre in the UK. The
London example, to be sited at Canary Wharf, is already nearer construction.
Edinburgh now joins a prestige group of cities - 315 throughout the world in 97 countries - which have reciprocal rights and obligations to share in each other's business initiatives.
The WTA, which is a non-
political body, was nominated for the Nobel Peace Prize in recognition of its work in using trade as a vehicle for peace.
The only other known bid from a Scot was an application for a licence by a Glasgow businessman who did not proceed with his application. Shortly afterwards, the entire licensing system was overhauled and resulted in more exacting standards than had previously applied.
Herbert Ouida, vice-president of the WTA in New York, said that the unsolicited bid from Andrew Russell, chief executive of Edinburgh Waterfront, and Lezley Cameron, the firm's chairwoman, was successful because it was an ''ambitious, realistic, well-researched'' business project.
He said: ''We do not give out a licence easily. This was audacious, a bold stroke by a team of entrepreneurial people with tremendous vision.''
Mr Ouida said that the development of the Granton waterfront was reminiscent of the origins of the New York World Trade Center 30 years ago.
He said: ''Waterfronts are often used for major business headquarters and the Edinburgh World Trade Centre at Granton will be at the heart of the regeneration of the area.''
Andrew Russell, chief executive of Edinburgh Waterfront, admitted that it was a casual conversation at the international MIPIM business conference in Cannes in March which gave him the idea for setting up a World Trade Centre in Edinburgh.
He said: ''I was talking to someone involved with the London World Trade Centre and it fired my imagination. I hadn't officially started working for Edinburgh Waterfront, but I realised the site at Granton would be ideal.
''The idea is catching fire and we are now putting together a financial package for the site.''
Bill Furness, chief executive of the Edinburgh Chamber of Commerce, gave the news a warm welcome.
He said: ''We are eager to work with Waterfront Edinburgh to identify how we can play a practical part in making the most of this opportunity.''
Guy Tozzoli, president of the WTA, said: ''I am confident that the well-known city of Edinburgh will make a special contribution to our association.
''The well-conceived plans submitted by Edinburgh Waterfront are exciting, and I am confident will strengthen Edinburgh's position as a world class international city.''
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