The rail firm Hitachi has moved its global headquarters from Tokyo to London, after winning a £1.2bn contract to build trains at its new factory in Newton Aycliffe in County Durham.
The Business Secretary, Vince Cable, said: "This move demonstrates a huge vote of confidence in Britain, its workers and its rail industry from one of Japan's biggest businesses. It follows the company's announcement last year of 750 new jobs at their factory in Newton Aycliffe."
The new purpose-built factory in Newton Aycliffe is expected to be operational from 2015 with full production starting in 2016.
A total of 270 carriages will be manufactured at the new plant, enhancing the factory's ability to win lucrative rail contracts across Europe.
More top news
Often very windy, especially as we head into Sunday, with rain or showers. Met Office 'Be Aware' warnings have been issued
Here is our essential guide to all things Christmas in the North East.
Trainees work with life sized childbirth simulators