Construction News

20/03/2014

£270m Guaranteed For Mersey Gateway

The Chancellor has confirmed a £270 million guarantee for Mersey Gateway.

The Government is now guaranteeing around 50% of the senior debt required to finance the project with the remainder being provided by the project finance market. The decision clears the way for financial close, when contracts will be awarded and all finance committed. As soon as this is completed, more details of the financial arrangements and funding will be confirmed and announced.

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Preparations are taking place to allow construction work to commence in the coming weeks.

(CD)

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