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More delays for GMWDA PFI deal

Financial discussions between bankers and Viridor Laing continue to delay the Greater Manchester Waste Disposal Authoritys £3 billion private finance initiative (PFI) deal.

The GMWDA had hoped to signed the contracts on June 6 but bankers for Viridor Laing are still carrying out their funding approvals.

However, GMWDA chairman Neil Swannick said: We are pleased with the progress weve made on the commercial aspects of contract negotiations. Viridor Laings funders are now completing their approval process. We are ready to sign the contract as soon as this is completed.

Viridor managing director Mike Hellings added: We remain fully committed to achieving full contractual close as soon as possible on completion of funding approval.

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