Treasury PFI plans savaged
Article Abstract:
Plans to reform the process of private funding initiative (PFI) projects has been criticised by UK banks and leading contractors, which sent a report to the Treasury in June 1998. The report was commissioned by the PFU Finance Providers' Forum which is made up of over 40 leading firms and banks involved in the construction industry. The forum calls for greater use of both public and private sector financial advisers, development of risk allocation strategies and the formation of specialist project sponsors who can advise on all areas of private funding.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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Contractors start PFI exodus
Article Abstract:
Contractors selected to bid to build a planned 240 million pounds sterling privately financed hospital in Whitechapel, London, England, are now reconsidering their involvement with the scheme, as they are finding that the costs of PFI projects are too high. They are unable to deal with more than three or four private finance schemes at any one time, and some may abandon private finance work altogether. This means that the hospital scheme may have to be dropped in favour of one which is publicly funded.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1996
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Shake-up at BAA
Article Abstract:
A fall in commissioned projects from almost 500 million pounds sterling per year to 350 million pounds sterling per year will prevent British Airports Authority (BAA) from being the largest single client for the UK construction industry up to the year 2002. Spending strategies at BAA will lead to 33% of the budget being spent on building the new terminal 5 at Heathrow Airport. A 10-year delay for terminal 5 has lead to the fall in projects for BAA.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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