PRIVATE finance to the tune of £1billion is set to turn part of the county into a world-leading city.

Eighteen international and national investors have told Medway Council they are prepared to commit the cash to transform the Medway Towns into a diamond city region.

The potential investors will now have to win over the council. At best, only three are expected to survive a weeding process. But they will have to agree a long partnership.

Cllr Rodney Chambers, leader of Medway Council, said they would be tying themselves to Medway for the next 25 years.

He said: "We aren’t looking for anyone trying to make a quick buck."

* See the Medway Messenger for the full story.