Energy supplier BP is set to invest £60 million in a new campus to support the development of advanced materials, chancellor George Osborne is to announce today (August 7th).
The ten-year investment will be used to create a research hub at Manchester University that will be partnered with Cambridge University, the University of Illinois and Imperial College London.
BP's funding will create 25 academic posts, 70 postgraduate researcher and 50 postdoctoral fellow positions.
The chancellor is expected to welcome the investment and hail it as an example of how companies are supporting research in the UK.
He will speak at the energy summit at Lancaster House in London as part of the government's attempt to attract support from business leaders during the Olympics.
It was claimed the new deal will help to cement Manchester as one of the world's greatest science research centres, while Britain is ranked fourth in the world for advanced materials.
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