Chancellor confirms £270million guarantee for Mersey Gateway
Today’s announcement from the Chancellor that the government has confirmed a £270million guarantee to support the project is great news.
The Government is now guaranteeing around 50% of the senior debt required to finance the project with the remainder being provided by the project finance market. This decision clears the way for financial close, (when contracts will be awarded and all finance committed) and we expect to achieve this in the very near future. Once we have completed this, more details of the financial arrangements and funding will be confirmed and announced.
Preparations are taking place to allow construction work to commence in the coming weeks.