Waste projects go forward in securing financing
London— Seven projects for dealing with England’s
waste moved a step closer to securing Private Finance Initiative (PFI)
The projects have been given
the go ahead for the next stage of the PFI process after applying to
Defra’s Waste Infrastructure Delivery Program (WIDP)
for PFI credits.
The successful authorities are:
- Norfolk County Council
- Milton Keynes Council & Northamptonshire
- Gloucestershire County Council
- Essex County Council & Southend Borough
- Leicestershire County Council
- Lincolnshire County Council
- Staffordshire County Council
The authorities must now submit their Outline Business Cases (OBC) by the
end of April, 2008.
If approved, the schemes will be advertised in the Official Journal of the
European Union in Autumn 2008.
projects - the North London Waste Authority, and Plymouth City Council
together with Devon County Council and Torbay County Council – may
still join the award round. They have been asked to review progress early
in the New Year to assess whether they can submit their OBCs by April 2008.
closing date for Expressions of Interest in the next PFI award round
is March 31, 2008. This is likely to be the last of the rounds under
the current Comprehensive Spending Review £2 billion allocation.
Successful authorities will be required to submit their OBC by October
2008 with approval expected in the winter. Current applications for PFI
credits must have a recycling rate equal to, or in excess of, the national
target of 50% by 2020.