Good news for fans of the IEP (Sid and Doris Bonkers).
This from Leasing Life...
A shortage of liquidity has meant that financing for one of Britain's largest ever rail projects, the Intercity Express Programme (IEP), will be sourced through five or six tranches of debt-raising rather than through one or two lump sum payments as had been originally planned.
While the delivery of the first batch of trains is likely to take place one year late (in 2014 rather than 2013 as was originally planned).
Isn't this all a bit previous?
The Department hasn't actually signed a contract for any of these trains yet.
