LONDON, Dec. 5 (Xinhua) -- Britain announced here on Wednesday an investment of 50 million pounds (100 million U.S. dollars) towards the new development of Tate Modern in a bid to build a creative country.

    James Purnell, Secretary of State for Culture, Media and Sport, hailed the investment as the largest capital commitment by the government to a cultural project since the British Library opened in 1998.

    "Today's announcement is an important endorsement by the government of the contribution that the arts make to society as a whole and the importance of British art at an international level. It gives us a platform for the creation of an institution for the 21st century, designed to serve the next generation of artists and visitors." Nicholas Serota, director of Tate, said.

    "This commitment confirms London's position as one of the leading international centers for the visual arts." Serota said.

    Tate Modern was created in 2000, with an investment of 137 million pounds of public and private money. In seven years, the gallery has become one of the most popular museums of modern art in the world, drawing over 30 million visitors since it opened. It is now Britain's second leading tourist attraction, helping revive a wide area of inner London and reconfigure cultural tourism along the South Bank.

    Nonetheless, much of Tate Modern's potential is still to be realized. One third of the building remains derelict and needs to be brought into use.

    The new development, by internationally celebrated architects, Herzog & de Meuron, will create a new building adjoining Tate Modern to the south, increasing Tate Modern's size by 60 percent, adding approximately 21,000 square meters of new space.

    The development will provide more space for contemporary art and enable Tate to explore new areas of contemporary visual culture involving photography, film, video and performance, enriching its current program.

    The Mayor of London has given a major investment of 7 million pounds from the London Development Agency towards the development and help fast-track the scheme so that it might be completed in time for the Olympic Games in 2012. (1 U.S. dollar = 0.5 pounds)