Sinn Féin MLA Caoimhe Archibald said the announcement is positive news for the college and the wider North West.
She said: "This investment is important in terms of enhancing education and training for skills development and employability to support the development of the knowledge economy and address historical regional economic imbalance.
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"The Springtown campus has an important role in industrial training with a history of partnerships with the community, schools and local industry; the investment will support the development of industrial apprenticeships as well as providing a state of the art environment for learning."
(CD/MH)
