UK turned down private financing for Stonehenge Tunnel and Lower Thames Crossing projects
The United Kingdom is seeking for alternative option to fund the Stonehenge Tunnel and Lower Thames Crossing projects but not through PF2 (private finance) funding.
The two mega projects were previously to be full or part-funded through PF2, but the government has abandoned the plan and the projects are not included in the Road Investment Strategy (RIS 2). However, the Department for Transport (DfT) has admitted that the projects do not yet have a final funding solution. DfT continues the development phase of the business case for the projects.
The Member of Parliaments (MPs) has urged DfT to
- clarify the financing structures available to fund the A303 Stonehenge tunnel and Lower Thames Crossing projects,
- determine how this financing structure affects the budget of GBP25.3 billion (US$33.25 billion) for RIS2,
- identify effects for other road projects in RIS2, and
The Department is expected to finalize the second strategy in 2019.
Country updates
-
-
March 12, 2019
VINCI issues GBP800m bond to fund Gatwick Airport stakes acquisition
VINCI Airports has issued a GBP800 million (US$1.04 billion) bond on behalf of its subsidiary to help fund the acquisition of a 50.01% stake in Gatwick Airport that it acquired at the end of 2018.&nbs...
Read more -
March 11, 2019
Acciona-led consortium to build and operate US$200 million waste-to-energy project in Scotland
A multinational consortium led by construction company Acciona has been selected as the preferred bidder to build and operate a waste-to-energy plant in the East Tullos a...
Read more -
March 07, 2019
BNP Paribas partners with Korea Investment & Securities to invest in European infrastructure
BNP Paribas Asset Management (BNPP AM) has announced that it is forming a strategic infrastructure debt management partnership with Korea Investment & Securities (KIS), one of the largest investme...
Read more -
March 06, 2019
UK city council launches tender for housing project
The Newcastle City Council has published a contract notice inviting organisations to finance, design, build and fit out new homes in the city, located in the north-east of England. There are 197 unit...
Read more -
March 05, 2019
Gresham House's British Strategic Investment Fund to close this year
Gresham House PLC has announced that it is targeting a final close for its British Strategic Investment Fund (BSIF) during 2019. As of last month, the fund has GBP165 million (US$217.8 milli...
Read more
