Latest:
Laing doubles PFI threshold
00:00 08 Aug 1996
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The John Laing Group has doubled its price threshold for taking an
interest in Private Finance Initiative contracts.
Laing's finance director James Armstrong commented: "We have previously said anything up to œ20 million is not worth the effort. Now we've lifted that figure to œ30-40 million."
Armstrong expressed disappointment with a recent meeting between Prime Minister John Major and top contractors. He said it had failed to get to grips with the problems of bureaucracy and risk transfer that were holding back PFI schemes.
Armstrong was particularly critical of PFI hospital projects. He suggested that the Department of Health needed to prepare a standard form of PFI contract.
Laing remains in line for a number of major PFI hospital schemes. They include the Edinburgh Royal Infirmary, the Edinburgh Western General, Leeds St James, Norfolk and Norwich Hospital and Worcester Royal Infirmary.
Laing's finance director James Armstrong commented: "We have previously said anything up to œ20 million is not worth the effort. Now we've lifted that figure to œ30-40 million."
Armstrong expressed disappointment with a recent meeting between Prime Minister John Major and top contractors. He said it had failed to get to grips with the problems of bureaucracy and risk transfer that were holding back PFI schemes.
Armstrong was particularly critical of PFI hospital projects. He suggested that the Department of Health needed to prepare a standard form of PFI contract.
Laing remains in line for a number of major PFI hospital schemes. They include the Edinburgh Royal Infirmary, the Edinburgh Western General, Leeds St James, Norfolk and Norwich Hospital and Worcester Royal Infirmary.
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