Mr. Alan WilliamsTo ask the Secretary of State for Trade and Industry if he will list the PFI contracts entered into by his Department, indicating(a) their dates of commencement, (b) their value, (c) if they have been subject to refinancing and (d) if his Department has a claw-back entitlement to share in savings arising from refinancing. [129058]
§ Mr. ByersThe Department and its agencies have signed three PFI contracts—the Radiocommunications Agency's joint venture for the provision of IT services and international consultancy, signed on 8 June 1998,212W with an estimated capital value of £15 million; the contract for the redevelopment of the National Physical Laboratory at Teddington, signed on 31 July 1998, with a capital value of £88.6 million; the Elgar contract for the provision of the Department's IT services, signed on 18 November 1998 with a currently estimated capital value of £60 million. The only contract that included external financing by a bank or financial institution was the redevelopment of the National Physical Laboratory. This contract has not been subject to refinancing. DTI agreement would be required in the event that refinancing led to an increase in potential DTI termination liabilities, although there is no pre-determined formal claw-back provision in the contract.