Project approved despite claims move will ‘concrete Westhoughton over’

A vision to transform an area close to the M61 into one of the UK’s biggest employment destinations has been approved.

Bolton council’s West of Wingates masterplan sets out the criteria and design expectations for the massive development on the western edge of Westhoughton, which when completed will support up to 6,000 jobs.

The allocation provides for around 440,000 sqm of industrial and warehousing floorspace.

Phase 1 planning permission for the project, next to the A6 on Chorley Road, was granted January 2024 is under construction.

Bolton council’s cabinet meeting heard that some councillors had ‘significant concerns about the road network’ around the site.

Another campaigner claimed the move will ‘concrete Westhoughton over’ with ‘green fields dug up over the next few years and thousands of extra vehicles per day’.

The cabinet meeting heard form executive member Nadeem Ayub who described the masterplan as providing a framework for ‘a high quality exemplar employment site’.

He added: “The decision on whether the site should be developed has already been made under the Places for Everyone plan. It has been allocated for employment use.

“The principle of development , the amount of floorspace was done after a full public consultation.

“This document is not a decision on whether to develop it’s about how to develop well.

“The document sets out a vision for a high quality exemplar employment site and puts forward eight design principle that every future application will be tested against.

“It protects landscape features and green corridors.”

Horwich & Blackrod First councillor David Grant told the meeting that it was ‘good that we are creating jobs but the highway network always seems to take a backward step’.

He added: “Coming from a neighbouring ward I still have significant concerns about the road network, particularly the motorway roundabouts, the Beehive roundabout – all are at capacity, all are still being developed.

“There doesn’t seem to have been any offer of improvements to those junctions. One minor accident or issue and the entirety of Horwich comes to a standstill.

“By adding a significant employment zone on the outskirts of that area will only add to people coming down the A6 and increasing the issues.”

Campaigner David Wilkinson was a councillor in Westhoughton for more than three decades before losing his seat last month.

Reacting to the decision he said: “The decision means over 400 acres of green fields will dug up over the next few years and thousands of extra vehicles per day.

“It’s one of the biggest industrial estates in the country.

“Phase II was included in Place for Everyone passed by Bolton Council in March 2024 it also included the development of Hulton Estate by Peel.

“It also removed green belt protection for hundreds of acres on the Phase II site at Wingates making easier to build.

“So the Labour, Tory and Independent councillors on Bolton council who voted for it, voted to concrete Westhoughton over.”

Bolton Council says that it worked with developers, the Harworth Group, and various public bodies as part of the consultation, as well as councillors and MPs in and around Westhoughton to produce the masterplan planning document.

An eight-week public consultation period ran from November 2025 to January 22 this year.

Planning application for the next phases of the West of Wingates development are expected to be submitted by Harworth Group in the coming months.

Shares of General Insurance Corporation of India (GIC) declined 6% to their day’s low of Rs 366 on the BSE on Tuesday as the government’s offer for sale (OFS) to divest up to 5% stake in the state-run insurer opens today at a floor price of Rs 352 apiece, implying a 9% discount to the stock’s previous closing price.

In an exchange filing released on Monday, GIC announced that the government aims to sell up to 3.51 crore shares, representing a 2% equity stake, as part of the base offer which opens for non-retail investors today (June 16). The government can also exercise the oversubscription option to additionally sell another 5.26 crore shares, representing another 3% stake in the company for the OFS that opens for retail investors and employees on Wednesday (June 17).

This collectively brings the total offer size to 8.77 crore shares, or a 5% equity stake in the general insurance company. At the floor price of Rs 352 per share, this would be worth more than Rs 3,087.74 crore.

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The latest stake sale comes as the government recently ramped up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC, NLC India and other PSU companies.

The government planned to sell 10% of its stake in the insurer ‌in tranches to meet the market regulator’s minimum public shareholding norm, Reuters reported in 2024. ⁠Of this, the government already sold a 3.4% shareholding in September 2024.

GIC shareholding pattern

The President of India owned more than 82% stake in GIC as of March 31, 2026, according to data on the company’s shareholding pattern on NSE. Life Insurance Corporation of India (LIC) meanwhile held around 10% stake, while 22 mutual funds held around 1.5% stake.
Around 2.07 lakh retail investors collectively owned a 1.4% stake in the company.

GIC share price

GIC shares have fallen around 1% in one week but are up nearly 2% in 2026 so far. The shares of the company have rallied 103% in three years and 92% in five years.The company has a market capitalisation of more than Rs 67,588 crore.

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(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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“Even if the situation remains unclear, should it be judged that upside risks to prices outweigh downside risks to economic activity, it will be necessary to thoroughly discuss the pros and cons of raising the policy interest rate,” Ueda earlier this month.