Written question asked by Lord Taylor of Goss Moor (Liberal Democrat) on Wednesday, 19 July 2000, in the House of Commons. It was due for an answer on Wednesday, 26 July 2000. It was answered by Keith Hill (Labour) on Wednesday, 26 July 2000 on behalf of the Department of the Environment, Transport and the Regions.

Dept of the Environment Transport and the Regions

Question: To ask the Secretary of State for the Environment, Transport and the Regions, what the net cost is of the Croydon Tramlink project under the Private Finance Initiative; what the value is of public sector comparators in (a) pre-risk and (b) risk adjusted terms and what risks are identified as having been transferred; and if he will make a statement. - Inc figures.

Answer: Mr. Matthew Taylor: To ask the Secretary of State for the Environment, Transport and the Regions what the net cost is of the Croydon Tramlink project under the Private Finance Initiative; what the value is of public sector comparators in (a) pre-risk and (b) risk adjusted terms and what risks are identified as having been transferred; and if he will make a statement. [132269] Mr. Hill: Croydon Tramlink was designed, built and is being operated by Tramtrack Croydon Ltd. (TCL), a private sector consortium, under a concession agreement with London Regional Transport made in 1996. Under the concession agreement TCL bear the risks associated with the construction and operation of the project. The Government made a fixed contribution of £125 million towards the projected capital cost of £200 million, in recognition of the wider benefits of Tramlink to the local area. TCL raised the remainder of the cost and run the system without public subsidy.

Secondary information