Richard Threlfall of KPMG says private sector interest remains strong in the Mersey Gateway Project

May 28 2009 by Mark Smith, Runcorn and Widnes Weekly News

A FINANCE consultant for Halton Council thinks the Mersey Gateway will be able to attract the necessary private investment.

Richard Threlfall, of consultants KPMG, was speaking at the public inquiry into the £431m scheme last Wednesday.

He told the inquiry that despite the current financial downturn, he expected the council to be able to attract a private partner to help build the bridge, as well as operate tolling.

He said: “When assessing the capability of the Mersey Gateway to be successfully financed it is important to understand both the financial analysis and whether there is a ready, willing and capable market of private sector companies that are likely to bid for and undertake the project.

“Notwithstanding current economic conditions throughout the world, the market for projects of this nature is generally strong, based on the evidence of the projects that have been signed to date – and the forecast continued pipeline the market place is expected to continue to exist into the foreseeable future.

“Of particular note is that while the state of the financial markets at the end of 2008 and beginning of 2009 means that the raising of external private finance is more difficult than has been the case in recent years, projects similar to the Mersey Gateway have successfully raised finance and reached contract signature in 2008 and in 2009.

“I am aware that a number of large scale UK and global organisations have expressed serious interest in this project.”