Development on the crawl

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UK must have minister for infrastructure, says PIP chief

first_imgHe said the construction risk usually involved in greenfield infrastructure projects was too high for pension scheme investors typically looking for low risk, long-term, inflation-linked returns to help meet regular pension payment obligations.Dalmore said back in July that it had secured £440m of commitments for its TTT fund from UK pension funds and European investors, and PIP investors were understood to account for most of that, having made a £370m co-investment alongside Dalmore earlier in the month.The PIP was set up by the UK National Association of Pension Funds (NAPF) and backed by the UK government, to channel investment into domestic infrastructure.Weston said the PIP wanted to see more investment opportunities like the TTT for UK pension funds.“If the government is serious about increasing institutional investment in infrastructure, then it needs to ensure a long-term pipeline of opportunities is in place to give pension schemes the confidence to build their internal investment systems and capabilities,” he said.In addition to this, the government has to be prepared to structure projects to deliver the low-risk cash flows pension schemes need, he said.“Finally, the government must appoint a minister specifically for infrastructure to oversee these large projects, which will typically cut across a number of government departments,” Weston said.The TTT project will create a new sewer and build a 25km tunnel below the River Thames.It is due to be completed by 2023. If the UK government wants to encourage more institutional investment in infrastructure, it must shape projects in a way that gives pension funds low-risk cash flows, and appoint a minister specifically for infrastructure, the head of the Pensions Infrastructure Platform (PIP) said.The PIP confirmed it helped secure more than £370m (€506.6m) of investment commitments on behalf of UK pension schemes in the Thames Tideway Tunnel (TTT) project via Dalmore Capital.It said the Bazalgette Tunnel Limited consortium, of which Dalmore is a part, received the licence to own the £4.2bn London “super sewer” on August 24.Mike Weston, chief executive of the PIP, said: “The Thames Tideway Tunnel is a great example of how even greenfield projects can have the risk mitigated to a level acceptable to pension funds.”last_img read more

Zambia to unleash the three muskteers against Ghana

first_imgChipolopolo Boys coach Herve Renard is leaning towards naming influential midfielders and exciting trio Rainford Kalaba, Fwayo Tembo and Chisamba Lungu in the same starting line up for the first, understands.According to those close to the Frenchman, the gaffer has been hinting on the idea and wanted to use the formation against Senegal in friendly last month but unfortunately, Russian based Chisamba Lungu had a Visa hitch and failed to make it for the match.With Mukuka Mulenga (injury) unlikely to feature against, Renard is set to play Chisamba behind a lone striker with Fwayo and Kalaba on the flanks.“It’s fantasy football on paper but Renard could be tempted. The trio could have free roles and swap positions,” a ZamFoot Crew source inside Chipolopolo camp revealed.But the stumbling block could be the role of skipper Chris Katongo. There are some concerns that Renard might not want to bench one of his trusted lieutenants and with FAZ and Utretcht still involved in a stand off, there are also rumours that Zambia will stick to the 2012 African Cup of Nations winning formula which saw Chris Katongo paired with Emmanuel Mayuka upfront with Chisamba and Kalaba on the flanks, and Fwayo should be sacrificed on the bench.In central midfield, Nathan Sinkala and Kondwani Mtonga are sure starters while the back, Bronson Chama is likely to get the nod ahead of Hichani Himoonde to partner Stopilla Sunzu with Davies Nkausu and Joseph Musonda as left backs, though Emmanuel Mbola could have a say on the final back line set up.last_img read more

Arranmore calls for high-speed broadband in hopes of halting population decline

first_imgArranmore woman Nora Flanagan has called for high-speed broadband in a bid to halt the population decline seen over the last number of decades.Nora says that over the past fifty years, the population has halved to a little over 400. The last child to be born on the island was two years ago.Speaking to RTÉ, Nora said that; “Over the next twenty years unless we reverse that situation then there will be hardly anyone left on Arranmore. It’s a huge island and it’s got lots to offer.” “There’s no younger people coming back, we need younger people.”Nora also got a giggle out of the RTÉ reporters when she quipped; “We don’t need old people like me, we need nice young couples coming back and having more children,” she laughed.Nora’s daughters have had to leave the island, although they would both love to return home. Daughter Eílis says that high-speed broadband would allow social and professional networking on the island and would incentivise young peoples’ return.Nora, the organiser of the Peadar O’Donnell Conference, last night focused on reversing the population decline of Donegal islands. Údaras na Gaeltachta CEO Mícheál Ó hÉanaigh told RTÉ that they are working on interim solutions such as digital hubs in order to allow people to work remotely.Arranmore calls for high-speed broadband in hopes of halting population decline was last modified: September 12th, 2017 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:arranmoredonegalislandPopulationRTElast_img read more