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'With a little help from a friend', MWDA, secures £90m PFI

Mouchel Parkman, a waste management consultancy service, has helped Merseyside Waste Disposal Authority (MWDA) to secure £90 million of Private Finance Initiative (PFI) investment credits. The PFI credits will help MDWA develop new waste management facilities. In securing the investment, Mouchel Parkman claims that it pioneered a new approach to PFI procurement which involved carrying out planning and land acquisition work before the appointment of a preferred bidder contractor. Traditionally it is the contractor which secures the planning permissions, with risks usually being carried forward to become significant items in the financial close discussions with the preferred bidder. Mouchel Parkman project manager Garry Wolfe said: MWDAs approach, which formed part of its business case to the Department for Environment, Food and Rural Affairs and HM Treasurys Project Review Group, which determines applications for PFI funding, reduced planning risk, made the project more attractive to prospective bidders, provided greater certainty in the project programme and reduced its exposure to Landfill Allowance Trading Scheme penalties.

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