Financial issues continue for bypass PPP in Scotland
Following an announcement earlier this year of a GBP25 million (then US$35.07 million) exceptional charge and a GBP150 million (then US$210.42 million) capital raise to cover additional costs of the Aberdeen Western Peripheral Route PPP project, Galliford Try has announced that it is experiencing further cost pressure which is likely to increase the exceptional charge.
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Country news
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May 18, 2018
GBP175 million green bonds issued for Thames Tideway Tunnel project
Tideway, whose shareholders include Allianz, Amber Infrastructure, Dalmore Capital and DIF, has issued GBP175 million (US$236.6 millon) green bonds to finance the Thames Tideway Tunnel (TTT) project, which involves the construction of a 25km sewer tunnel in London.
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May 17, 2018
UK Transport Secretary announces major rail PPP
The head of the UK government's Department for Transport (DfT) has announced that it is taking control of the East Coast Main Line, a 632km railway connecting London to Edinburgh currently operated by private companies Stagecoach and Virgin Trains, until 2020, from which time it will be run through a public-private partnership (PPP).
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May 15, 2018
UK government approves US$1.4 billion tunnel PPP in London
The Department for Transport (DfT) of the UK government has approved the Silvertown Tunnel PPP project. This involves the construction of a 1km twin-bore road tunnel under the River Thames, connecting Silvertown, on the north bank of the river, to North Greenwich, in east London. It is estimated to cost GBP1 billion (US$1.36 billion).
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May 09, 2018
UK Department for Transport launches market-sounding for multi-billion rail PPPs involving Heathrow Airport
The UK Government's Department for Transport (DfT) has published prior information notices for market sounding events for two rail projects - the Western Rail Link to Heathrow (WRLtH) and the Southern Rail Link to Heathrow (SRLtH). Heathrow is a major international airport - the second busiest in the world - located 23km west of London.
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May 03, 2018
Ferrovial sets aside US$285 million to cover penalties for Birmingham highways PPP
Ferrovial has announced that it is going to include an additional provision of GBP208 million (US$283.1 million) in its financial results for the first quarter of 2018, which are to be published next week, in relation to the Birmingham Highways PFI contract operated by a subsidiary of Amey Plc., a subsidiary of Ferrovial.
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