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Nottingham NET Tram System

Volume 450: debated on Wednesday 25 October 2006

To ask the Secretary of State for Transport what the change in estimated costs for lines two and three has been of the Nottingham NET tram system since his Department accepted the final submission. (94198)

We received the final information from the promoters in response to our questions in spring this year. At that time, the promoters estimated that the scheme would require central Government funding of £422 million PFI credits, and a local contribution of £140.6 million (in present value).

Today we approved programme entry for the NET extensions, with central Government funding of £437 million PFI credits, on the basis of the promoter’s latest estimates. The latest estimate for the required local contribution is £141.0 million (in present value).