Financial close draws near for Carlisle link road

18 May 2009 14:48 Michael Hunt Comments (0)

Four banks are reportedly ready to take on equal shares of £90m debt to bring financial close for the Carlisle Northern Development Route in Cumbria.

Banks including Barclays, Helaba, National Australia Bank and SMBC are reported to be involved in bringing financial close in June.

Balfour Beatty's Connect consortium was awarded the contract in 2007, but the project was held up when the original backer, Dexia, pulled out.

As soon as work starts, Balfour Beatty will construct a five mile single-carriageway road linking the A595 at Newby West in Carlisle with J44 of the M6 at Kingstown.

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