§ Mr. Matthew TaylorTo ask the Secretary of State for the Environment, Transport and the Regions what the net present cost is of the Birmingham Northern Relief Road project under the Private Finance Initiative; what the value is of the public sector comparators in(a) pre-risk and (b) risk adjusted terms; what risks are identified as having been transferred; and if he will make a statement. [131585]
§ Mr. HillThe Birmingham Northern Relief Road is to be built, financed, operated and maintained by the concessionaire Midland Expressway Ltd. at its own cost and risk and without recourse to Government Funds or to Government guarantees. A cost benefit analysis carried out in 1991 showed the scheme proposed by Midland Expressway having a benefit: cost ratio of more than 2:1.