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European Investment Bank Loans

Volume 885: debated on Thursday 30 January 1975

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asked the Chancellor of the Exchequer if he will list the loans granted by the European Investment Bank for projects in the United Kingdom in 1974.

In 1974 the European Investment Bank granted nine loans totalling £79·9 million for projects in the United Kingdom. The details are:

BorrowerAmount £m.TermsProject
North of Scotland Hydro-Electric Board10·420 years at 9½ per cent.Peterhead Power Station, Aberdeenshire.
Elf Oil (U.K.)10·410 years at 9⅞ per cent.Development of the Frigg gas field in the North Sea.
Total Oil (U.K.)
Aquitaine Oil (U.K.)
Kent and Essex County Councils7·010 years at 10½ per cent.Second Dartford Tunnel.
British Steel Corporation8·012 years at 10½ per cent.New Sinter plant at Port Talbot Steelworks.
British Steel Corporation12·012 years at 10½ per cent.Construction of bar mill at Thrybergh Steelworks near Rotherham.
Industrial and Commercial Finance Corporation10·010 years at 10½ per cent.For on-lending to small and medium-sized firms in the development areas.
Lewis Offshore Ltd.4·08 years at 10½ per cent.Development of a construction yard at Arnish Point in the Hebrides for the assemble of equipment for offshore oil exploration and production.
Electricity Council15·612 years at 10½ per cent.Nuclear power station at Hartlepool.
Short Brothers and Harland Ltd., Belfast2·55 years at 10½ per cent.Development of low-cost commuter aircraft at the company's factory in Belfast.