HL Deb 08 February 1978 vol 388 cc1148-55WA
Lord O'HAGAN

asked Her Majesty's Government:

To list all loans received from the European Investment Bank; to state the rate of interest in each case; and to show, for each year since accession, the amount lent to private and public undertakings.

Baroness BIRK

Between 1st January 1973 and 31st December 1977 the European Investment Bank granted loans in the United Kingdom totalling £879 million.

EUROPEAN INVESTMENT BANK LOANS IN THE UNITED KINGDOM
1 January 1973 to 31 December 1977.
1973 Borrower Amount £m Repayment period years Interest rate % Project
Industrial and Commercial Finance Corporation 2.5 14 7¾ For on-lending to small and medium-sized firms in the development areas.
1.0 9 7⅜
British Steel Corporation 14.7 17½ 8½ Expansion of burden-preparation facilities at the Tees-side iron and steelworks.
British Steel Corporation 14.7 18 8½ Llanwern iron and steelworks.
32.9
1974
North of Scotland Hydro-Electric Board 10.4 20 9½ Peterhead Power Station Aberdeenshire.
Elf Oil (UK) 10.4 10 9⅞ Development of the Frigg gas field in the North Sea.
Total Oil (UK)
Aquitaine Oil (UK)
Kent and Essex County Councils 7.0 10 10½ Second Dartford Tunnel.
British Steel Corporation 8.0 12 10½ New Sinter plant at Port Talbot Steel Works.
British Steel Corporation 12.0 12 10½ Construction of bar mill at Thryburgh Steelworks near Rotherham.
Industrial & Commercial Finance Corporation 10.0* 10 1½ For on-lending to small and medium sized firms in the development area.
Lewis Offshore Ltd. 4.0 8 10½ Development of a construction yard at Arnish Point in the Hebrides for the assembly of equipment for offshore oil exploration and production.
Electricity Council 15.6 12 10½ Nuclear Power Station at Hartlepool.
Short Bros. & Harland Ltd. Belfast 2.5 5 10½ Development of low-cost commuter aircraft at the company's factory in Belfast.
79.9
*Lapsed in November 1975 after only £600,000 had been drawn.
1975
South of Scotland Electricity Board 15.6 12 9⅞ Hunterston B Nuclear Power Station.
Electricity Council 7.8 12 9⅞ Nuclear Power Station, Hartlepool.
Distillers Company 12.0 10 9½ Whisky blending and bottling factory at Shieldhall, near Glasgow.
South of Scotland Electricity Board 7.8 12 9½ Hunterston B Nuclsar Power Station.
National Coal Board 7.2 10 9½ Extension and modernisation of five coal mines in Yorkshire and South Wales.
British Gas Corporation 24.2 10 9½ New pipeline system to bring natural gas from the Frigg Field to Scotland and connect up with the national distribution grid.

Details of the loans, and the amount lent to private and public undertakings in each year since accession, are as follows:

1975 (Ctd) Borrower Amount £m Repayment period years Interest rate % Project
British Gas Corporation 23.6 10 9¼ Second phase of extension to the natural gas transmission system to permit deliveries of gas from the Frigg Field.
Tate & Lyle 1.6 10 9½ Glucose factory at Goole, Yorkshire.
Post Office 17.5 10 9½ Modernisaion of telecommunications in Wales and the Borders.
National Water Council 7.5 12 9½ Kielder water scheme, North East England.
British Steel Corporation 17.5 10 9½ Installation of new coating lines at Shotton, North Wales.
South of Scotland Electricity Board 10.0 8 9½ Power lines to connect Inver.kid power station with the main transmission system.
North of Scotland Hydro-Electricity Board 10.0 8 9½ Power lines to connect Peterhean North power station with the main transmission system, and to reinforce supply system to Aberdeen.
British Railways Board 6.3 8 9½ Construction of "merry go round" coal wagons.
Shetland Island Council 16.9 10 9½ Oil tanker harbour at Sullom Voe in the Shetlands.
Olivetti International 1.0 5 9½ Conversion and expansion of the British Olivetti typewriter factory in Glasgow.
186.5
1976
British Gas Corporation 20.0 10 9½ Gas pipelines network.
Post Office 17.3 10 9½ Telecommunications network in Scotland.
National Water Council 9.0 10 9½ Water supply schemes in North.West England.
National Water Council 4.0 12 9½ Kielder water scheme in Northumbria.
British Gas Corporation 17.3 8 9 Southern Feeder gas pipeline.
British Railways Board 11.6 8 9 Construction of three prototype Advanced Passenger Trains.
British Gas Corporation 8.6 8 9 Gas pipeline to South-West England.
Post Office 17.6 10 9½ Telephone installations in North.Eastern telecommunications regions.
British Railways Board 5.5 10 9½ To modernise shipping service between Holyhead and Dun.Laoghaire.
Electricity Council 26.0 12 9½ Dinorwic hydro-electric scheme.
North Sea Inc. 16.8 8 9 Development of Beryl oil field in the North Sea.
British Steel Corporation 6.75 8 9 Expansion of Consett works, Co.Durham.
British Steel Corporation 3.5 8 9 Expansion of Dalzell steelworks, Motherwell.
British Railways Board 5.0 10 9 Enlargement of two hovercraft.
British Steel Corporation 14.7 10 9 (i) £12.6m for coal handling and blending system at Port Talbot.
(ii) £2.1m for improvements at Distington Works, Workington.

1976 Borrower Anoumt £m Repayment period years Interest rate % Project
National Water Council 10.0 12 8⅞ (i) £6m for the Kielder Water Scheme North-umbria.
(ii) £4m for water supply and sewerage projects in Cornwall.
Santa Fe Minerals (UK) Inc. 17.9 7 8⅜ Development of Thistle oil field in the North Sea.
British Petroleum 30.4 8 8½ (i) £19.7m for acetic acid plant at Hull.
(ii) £10.7m for pipeline from Ninian oil field to Sullom Voe.
British Steel Corporation 17.0 10 8⅞ To increase casing pipe finishing capacity at two works near Glasgow and at Hartlepool.
258.95
1977
Post Office 18.5 10 8⅞ Extension and modernisation of telephone system in Northern Ireland.
National Water Council 8.3 9 8⅞ Increase of water supplies in Cheshire, Merseyside, greater Manchester, Lancashire and Cumbria.
British Steel Corporation 14.0 12 8⅞ Ravenscraig works, Mother-well.
National Water Council 7.5 15 9⅛ Water supply project and sewerage scheme in Teesside region.
National Water Council 6.2 12 8⅞ Water supply projects and sewerage schemes in Gwent, mid and South Glamorgan.
National Water Council 2.5 11½ 8½ Water supply and sewage scheme in Cornwall.
National Water Council 7.5 15 8.95 Water supply project and sewerage scheme in Teesside region.
National Water Council 14.6 15 8.95 Water supply project in Yorkshire.
North of Scotland Hydro-Electricity Board 4.1 15 8.95 Reinforcement of electricity transmission system to the Isle of Skye. Introduction of first mains electricity supply to three Shetland Islands.
British Steel Corporation Chemicals 6.9 12 8½ Construction of Benzole refinery at Port Clarence on Teesside.
British Steel Corporation 7.7 12 8⅞ Modernisation of iron foundries at Distington works, Workington and Full wood, near Motherwell.
British Steel Corporation 3.8 12 8⅞ Modernisation of steel foundry at Craigneute, near Motherwell.
British Steel Corporation 52.7 12 8¾ Expansion of steelworks at Motherwell.
Lothian Water 25.0 15 9 To increase water supplies to Edinburgh and Midlothian and to reduce pollution in the Firth of Forth by major improvements to Edinburgh sewerage system.

1977 (Ctd) Borrower Amount £m Repayment period years Interest rate% Project
National Water Council 6.2 11½ 8¾ Water supply projects and sewerage schemes in Gwent, mid and South Glamorgan.
National Water Council 19.8 15 9 Works designed to increase water supplies in the North-West of England.
South of Scotland Electricity Board 4.3 12 8¾ Erection of transmission lines in Scotland.
UK Government Agency 20.0 7 7½ Finance for small and medium sized industrial ventures in the assisted areas.
British Railways Board 7.2 12 8.45 High speed rail depots on East Coast.
British Steel Corporation 8.0 12 8.6 Third iron ore reloader at Redcar, South Teesside.
British Steel Corporation 3.9 12 8.6 Modernisation of Templeton Brickworks, Co. Durham.
Central Electricity Generating Board 52.3 15 8.65 Construction of power station at Heysham, Lancashire.
National Water Council 19.8 15 8.6 Improvement of water supplies by construction at Kielder dam and distribution system to the Wear and Tyne
320.7

EUROPEAN BANK LOANS TO PRIVATE AND PUBLIC UNDERTAKINGS 1973–1977
Public Sector (£m) Private Sector (£m) Total
1973 29.4 3.5 32.9
1974 53.0 26.9 79.9
1975 171.9 14.6 186.5
1976 193.85 65.1 258.95
1977 300.7 20.0* 320.7