Notwithstanding, SCC progressed to the commercial partnership stage. In particular, the deal situation of the ‘New Runway’ creates a far more complex funding, operational and risk arrangement than the ‘unchanged’ nature of the ‘Do Nothing’ option.
It is still not clear that improvement of the previous economic assessments (if any), and the nature of the financial arrangements, are sufficient to offset the complexity of the deal arrangement compared to the simplicity for ‘Do Nothing’ (until further details are provided). The ‘Do Nothing’ alternative does not require the need to implement extensive mitigation and offset requirements for the environment and (yet to be determined) cultural heritage issues.
View the Review of the Commercial Deal by SCEC [document to be added with link on website]