Article Abstract:
Construction industry leaders have for some time been pointing out that private sector investment in many projects is being hampered by excessive bidding costs and unclear tendering rules. They have therefore welcomed moves by the UK government to speed up its private finance initiative (PFI) by reducing bureaucracy and the expense of bidding for projects. The PFI is now expected to produce at least 2 billion pounds sterling a year for the next three years.
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Article Abstract:
Skanska is Sweden's largest building contractor and ranks ninth in Europe. International contracts accounted for 41% of turnover in a total of 3.7 billion pounds sterling in 1995. In 1995, Skanska signed its first UK private finance initiative to build Bridgend Prison, Wales, to accommodate 800 inmates. Apart from the Bridgend contract, Skanska is looking to bid for three other major projects in the UK and Scotland.
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Article Abstract:
The Labour party is looking at ways of buying out the contractual arrangements made with Group 4 and Tarmac for a 600-place prison in Liverpool, England, and with Skanska and Costain for a prison in Bridgend, Wales. The prisons would then be returned to the public sector. It has stated that all new prisons would be built in the public sector under a Labour government.
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