CREATING Kent Thameside and regenerating Medway and Swale will cost a staggering £10 billion says the man heading the project.

The figures were revealed this week by Marc Hume, chief executive of the Thames Gateway Kent Partnership. He told councillors at the Kent Thameside Executive: "We have not completed the analysis of the funding requirements, but all the indications are that it is going to cost in the region of £500 million per annum for the next 20 years."

Mr Hume told the executive made up of members from the County, Dartford and Gravesham Borough Councils that more than 70 organisations were now involved in the project. They agreed that Kent Thameside will bring major growth to relieve development pressure on London and other parts of the South East.

Among other objectives being set for Thames Gateway Kent will be the creation of a "cutting edge economy". A key target of the new community will be turning round the image of north Kent. It would become, Mr Hume said, "a place of inspiring opportunities".

The creation of a Medway University, the formation of a Chatham City Centre, protecting north Kent's marshes and providing further funds for primary care in north Kent will also need massive investments.