Mayor of London Boris Johnson will plough £23 million into Croydon to push regeneration and return the town to its former glory.

The Mayor is set to announce the huge investment at the Develop Croydon Conference held in the Fairfield Halls on Tuesday November 22 in front of investors from around the world.

He will unveil detailed plans to improve the town centre’s appearance and infrastructure: These will include £5m on improving the interchange by West Croydon station and the junction on Dingwall Road and Lansdowne Road by East Croydon station.

£7m will be spent repairing Croydon town centre shopping precinct, £6m will pay for upgrading walk ways and pedestrian crossings at Wellesley Road, Bedford Park Road, Lansdowne Road, George Street and the Fairfields Halls and £5m will be spent on attracting businesses to the area over the next three years.

He will tell those at the conference: “Croydon is ripe for investment and the devastation of the August riots is a reminder of the urgency of investing serious sums into this potential economic powerhouse.

“South London is critical for capital’s long-term economic success and prosperity.

“Its people deserve to live in attractive surroundings and the rest of London needs the jobs, opportunities and economic growth that Croydon has so often created throughout its long history.”

The money is on top of funds available through the Outer London Fund and £70m Croydon Council and partners are investing in developing the town, Croydon Council leader Mike Fisher said: “Croydon is committed to investing in major regeneration. The funding from the Mayor of London will help us to realise many of our ambitions.

“There have been plans in the past that never got off the ground. Now we are seeing things really happen in Croydon. Coming so soon after the Westfield announcement this shows there is a real buzz about Croydon right now.”

Click here to follow all the action at the Develop Croydon Conference on the Croydon Guardian's live feed