QUEENSBERRY Real Estate's welcoming of Newport City Council's bid to fund the project through a £90m loan is, of course to be expected.

For this deal will allow the project to go ahead with its predicted 2015 opening date and will save the company the need to seek other financial partners.

But, it is worth re-emphasising to the doubters out there, that this is a company with a good track record.

Partner Paul Sargent is right to point people to the major retail projects successfully completed in Bath and Belfast as proof of the company's ability to deliver.

And given that is has just been selected as a development partner for a £150m retail scheme in the heart of Coventry, it is obviously a firm which inspires confidence in others.

There is no doubt though that the market is tough when it comes to financing such a project so Newport council's stepping in in this way removes one of the hurdles.

And it is worth pointing out that the council won't just be handing over £90m to Queensberry in one lump sum. The money will be releasesd as and when it is needed during each stage of the development process.

What is important now is that the council uses its unique position to insist that Queensberry uses local contractors and local workforce wherever possible unless there is an exceptional reason why this cannot be the case.