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Private Finance Initiative

Volume 404: debated on Wednesday 30 April 2003

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To ask the Secretary of State for Transport how many PFI contracts his Department or its agencies (a) have with and (b) are being tendered for by (i) Amey plc and (ii) consortia involving Amey plc; what the total value is of those contracts; what the average length is of the contracts or proposed contracts; and what assessment his Department has made of the financial position of Amey plc and the implications for his Department. [108329]

Amey plc retains no sole interest awards in PFI contracts for the Department for Transport or its agencies.Amey plc retains an interest in three PFI contracts awarded to consortia by the Department for Transport and its agencies. These contracts have a total capital value of £5,705 million; two of them are for 30 years and the other for 99 years.Neither the Department for Transport nor any of its agencies have any PFI contracts out to tender with Amey plc.The PFI procurement process includes an assessment of the financial robustness of bids. In most cases the bids involve more than one party and this adds to their financial strength.The Government does not maintain an exhaustive list of which companies have financial interests in particular projects. Such interests vary both in degree and over time and do not necessarily impact on the quality, continuity or the ongoing viability of the project concerned.It would be inappropriate for Government to comment on the financial position of particular companies, which is a matter for the shareholders concerned.