North Lanarkshire Council said the Ravenscraig Infrastructure Access (RIA) project will generate more than 6,500 jobs and around £360 million per year for the local economy.

The improved transport connectivity and road infrastructure at Ravenscraig and the surrounding area moved a step closer after the council approved an extra £29.7m of investment and the Glasgow City Region cabinet allowed City Deal funding to be reprioritised for the project.

City Deal funding will now be focussed on the RIA project as part of the wider Pan Lanarkshire Orbital Corridor which will see new and upgraded roads from the M74 at Motherwell, through Ravenscraig to the M8 at Eurocentral, and onward past Airdrie on a new link road to the A73 south of Cumbernauld.

Councillor Paul Kelly, depute leader of North Lanarkshire Council, said: “The regeneration of Ravencraig is of major strategic and economic importance to North Lanarkshire and the wider area.

“The £201m Pan-Lanarkshire Orbital project represents the biggest single roads and infrastructure investment in North Lanarkshire’s history, and our focus must be on those projects that will attract investment to the area and be of the greatest economic benefit to our communities.

“Channelling our resources into creating a first-class infrastructure at Ravenscraig will bolster future investment from the private sector to create homes, businesses and job opportunities - potentially creating 6,500 jobs and generating £360m in Gross Value Added (GVA) for the local economy. It’s vital that we focus on those projects that offer the best return on investment for our communities, our economy and for the future of North Lanarkshire.”

Ravenscraig Ltd’s new masterplan will be considered by the council in the coming weeks. It includes plans for:

• 3,000 houses
• 19,000m² of office space
• 63,000m² of industrial space
• 30,000m² of retail space
• Five primary schools and associated nursery provision
• Extension to the Ravenscraig Regional Sports Facility
• New seven hectare town park

At 455 hectares, Ravenscraig is one of Europe’s largest brownfield regeneration sites and accounts for 13% of the Glasgow City Region’s vacant and derelict land.