Funding still in place for King’s Lynn incinerator, despite Lloyds Bank’s withdrawal

The proposed incinerator site at Saddlebow. Picture: Ian Burt. The proposed incinerator site at Saddlebow. Picture: Ian Burt.

David Bale david.bale2@archant.co.uk
Saturday, March 15, 2014
8:00 AM

The company behind Norfolk’s controversial incinerator said funding was still in place, despite the withdrawal of one of its bankers.

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LLoyds Bank, which was one of the main backers of the proposed incinerator near King’s Lynn, has withdrawn from the project.

But a spokesman for Cory Wheelabrator, which has signed a contract with Norfolk County Council to build and run the plant at Saddlebow, said: “Lloyds Bank has transferred its lending commitment to another financial institution and we’re happy to confirm that funding is still in place for this important project.”

Mike Knights, from Fair Green, near King’s Lynn, raised concerns with Lloyds Bank about the project, and the bank’s Chris Sood-Nicholls said in a letter to him: “After careful consideration, Lloyds Bank has recently agreed to transfer its lending commitment to another financial institution and will no longer be playing an active role in financing the project.”

Mr Knights said: “I think the incinerator is increasingly seen as a ‘toxic investment’, to be ‘off-loaded’ and not worth risking a bank’s reputation over.”

The news has been welcomed by North-West Norfolk MP Henry Bellingham, who said it was “potentially of huge significance”.

He said: “Lloyds Bank was the lead financial institution supporting the project. We don’t know who Lloyds has transferred its loan to, or why it pulled out - maybe they could see the writing on the wall. It’s been made clear to them by many people, including myself, that if its role in the project was made clear, there was the threat of a consumer boycott.”

A Norfolk County Council spokesman said: “Any questions about financing for the scheme should really be directed to the consortium behind the project but we note that Lloyds says in its letter that it has “agreed to transfer its lending commitment to another financial institution”.”

The Communities secretary Eric Pickles had been due to make a decision on the King’s Lynn incinerator on January 14, but two months on and he has yet to make an announcement.

• What’s your view on the incinerator saga? Write, giving full contact details, to Letters Editor, Prospect House, Rouen Road, Norwich NR1 1RE.

70 comments

  • Must be his recreation period again.

    Report this comment

    Del Boy

    Monday, March 17, 2014

  • Lloyds bank are in trouble we all know that much and they have pulled out of quite a lot recently in order to show a profit. They were billions behind and have had their balance sheets wiped but are still in serious trouble.

    Report this comment

    Up The Lefties

    Saturday, March 15, 2014

  • What`s the next move for NCC - A pay day loan?

    Report this comment

    BG

    Saturday, March 15, 2014

  • UKIP candidates and politicians seem to be drawn to the courts like moths to a flame. In the early days they accepted anyone. They are more choosy now because Nigel is in trouble and his party is losing ground.

    Report this comment

    Dickens

    Monday, March 17, 2014

  • I know I went into unauthorised overdraft last month by £3, but I didn't know it would have this dramatic effect. I hope the anti's will thank me if the incinerator project now collapses.

    Report this comment

    Rhombus

    Saturday, March 15, 2014

  • I must say Pew.ty your blogs have the same ring as one or two other bloggers here. I think the 'bigger play' you refer to must be the 1988 one called "The Deceivers". Set in India so your mate Ra.j will know it well and it has several counc.illors in starring roles

    Report this comment

    Sandy.L

    Saturday, March 15, 2014

  • Good to see an institution as big as Lloyds giving it's support to KLWIN in such a way, especially after the Government pulled the PFI too. If a bank knows that it can't make money and is prepared to walk away then it sends a very clear message out, doesn't it?

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Profit for all of my business is up and doing well but no money invested into Lloyds. Even government wanting to get rid of Lloyds isn't it. Bank has no money for investment.

    Report this comment

    Mr Raj Patel

    Saturday, March 15, 2014

  • If you obey the terms of use for the EDP website, you wont have your comments removed. Q.E.D.

    Report this comment

    User Removed

    Sunday, March 16, 2014

  • I do feel for the anti campaigners a bit. Every time something turns up they think it is all over. They thought an election would do it but it was a damp start. Then they thought Murphy’s trial would do it but no. Then a Planning Inquiry but no joy. The loads of complaints to the Standards Board that came to nothing. Then another scheme from Lynn council but no good. Then the PFI credits but it did not make an impact. Then the big vote they were sure would go their way but it did not. Then the Labour and the others taking over NCC but thwarted once again and everything else in between. Now a busted bank has walked but still no impact. When will the shiny penny drop ? There is a bigger play here and they are still looking in the wrong cupboard after all this time. Who on earth is in charge of this so called campaign ? Inspector Clouseau ?

    Report this comment

    Arthur Pewty

    Saturday, March 15, 2014

  • Now now Larson, 'Raj' might have a point about boycotting things. Maybe he should stick a sign up in his 'shop' window showing support for an incinerator and then wait for the tumbleweed to blow past as people vote with their feet.....

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • I can think of another UKIP candidate who had his collar felt by the long arm of the law recently for harassment..... poor Bill - not a danger to anyone, just misunderstood.

    Report this comment

    Shirley Stalker

    Monday, March 17, 2014

  • Ahem. "I fully agree with you Honest John. For far too long a single bloke under a myriad of names has come on here shouting the odds and calling respected councillors all sorts of names. I have made a careful collection of all of those comments over a period of years, despite the huge cost of ink and paper incurred. Any comment against the development is met with foul language, name calling and of course the usual petty minded little sneak complaints to all and sundry. We all know the sort and have distanced ourselves from him in life thus he ended up here. This is the main reason the entire campaign went from strength to strength; he is so far behind the curve on this. Just wait and see what he starts calling the Sec of State when he is proved wrong again. Pitiful."

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Were I in Cory Wheelabrator's position, I should be worried by this development. Lloyds Banking Group was effectively a major partner in a twenty-five year commercial deal. Who knows what impact its decision will have on the two other financial institutions involved. No doubt that decision was influenced by the delay, the withdrawal of the waste infrastructure credits and the uncertainty as to whether planning permission will ever be granted. (You could then add to that concerns about its reputation in the retail sector.) Possibly RBS will in time follow suit. This whole project has been damned from the start. One day, whatever the Communities Secretary decides, we shall look back and ask how the people of Norfolk ever came to be dragged into this mess.

    Report this comment

    John Martin

    Saturday, March 15, 2014

  • Andy, you say it is quite amusing to see the multi poster dishing out on Lloyds Bank, are they unaware that another CW funder is RBS, in a similar position to Lloyds. Can we have some comments giving views of RBS before the news rather than the D.ickensian après-storytale? No, they can’t.

    Report this comment

    Honest John

    Saturday, March 15, 2014

  • This Lloyds that you claim is skint, is that the same Lloyds that announced a pre tax profit of £415 million for last year, the first time since its government bail out? Can't see it going anywhere. Nice try Del.

    Report this comment

    Bikerboy

    Saturday, March 15, 2014

  • Poor Del - you mentioned about the email you sent to the anti campaign in your previous posts... do let us all know when you intend to hit the campaign trail as you're obviously itching to put your money where your mouth is?

    Report this comment

    User Removed

    Sunday, March 16, 2014

  • Dear oh dear 'Sherlock' - what a tizzy!

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • D.ickens, not like you to not put your own name to stupi.dity, what’s up old pal?

    Report this comment

    Honest John

    Saturday, March 15, 2014

  • Talking to itself now. What is it on about ? Can anyone work it out ? Has never been outside King's Lynn, nowhere near London and Jamaica is something it saw on telly. Barking.

    Report this comment

    Del Boy

    Monday, March 17, 2014

  • Didn't hear you complaining about Lloyds being on your accs. Per.cy Un-cute. I expect the other bank involved will be getting the jitters now.

    Report this comment

    Sandy.L

    Saturday, March 15, 2014

  • Lloyds seem to be pulling out of everything these days. Not a good sign for any bank let alone one that is in reality bust but for the British tax payer. Even the City has lost faith according to the pink pages.

    Report this comment

    Dr Barrington-Smythe

    Saturday, March 15, 2014

  • Actually Sugar innit is West Indian - Jamaican not Asian. If you want to be a critic get it right. I should know - I worked in Central London for 30 years. By the way the local MP has been told how it will go. Shame he is keeping it quiet. Something else you did not know. Ring and ask him directly or email or write. Ask him straight out what he has been told to expect. See how he dodges around it.

    Report this comment

    Del Boy

    Saturday, March 15, 2014

  • Seems like some one is offering the most sincere form of flattery. They have thrown everything at this guy and he is still doing what he does best. Priceless. They go for it every time day in and day out. This has to be the work of a determined team. Love it. Anyway as far as the banks go there is always a queue for this sort of thing and the earlier comments are correct. This changes nothing and the MP and his new best friend have wasted their time. Again.

    Report this comment

    Mr A. Schicklgruber

    Saturday, March 15, 2014

  • Problem with anti campaign is they always want to have a say but not allow anyone else same thing. Always they get nasty and start complaining like kiddies who have lost their ball. All people must have opinion isn't it? We people of Norfolk must stick together. All I am saying is bank of Lloyd is not good place to do business. No problem with that.

    Report this comment

    Mr Raj Patel

    Saturday, March 15, 2014

  • I say old chap. You can't just keep reporting people for the sake of it because you don't agree with them. That is possibly why the campaign fell short and why the papers etc take no notice. Crying wolf too often and all that. Two sides to every coin old bean.

    Report this comment

    Sir Montague Baden-Philips

    Sunday, March 16, 2014

  • Ever thought of branching out Raj? I hear there's a great deal of cash in bedding and soft furnishings these days.....

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Ignore them. They are local so you will get nowhere. My friend worked in a local office where she was asked to ‘writ’ her name on a form. You can only imagine when it come to something like high finance what might be going on up there. Leave the locals alone I say. This is a local problem for local people to deal with in their local way.

    Report this comment

    Mrs Willingale

    Saturday, March 15, 2014

  • Del, why are you handing advice out to yourself? We can all see that it's you logging in under all those fake accounts. What the dickens do you hope to achieve?

    Report this comment

    Shirley Stalker

    Sunday, March 16, 2014

  • Downham Con Club sounds awful from what I hear. Try White's in London. Jolly good luncheon. You will need to know someone of course. Good luck old chap.

    Report this comment

    Sir Montague Baden-Philips

    Sunday, March 16, 2014

  • Lloyds are probably concerned about their image. This is no longer a viable or safe investment and the number of people who will close their accounts has them worried. Maybe RBS should re-think their position as should anyone supporting this white elephant.

    Report this comment

    Sandy.L

    Saturday, March 15, 2014

  • Despite all the arguements on here, the first paragraph of this report seems to say it all "The company behind Norfolk’s controversial incinerator said funding was still in place, despite the withdrawal of one of its bankers". So, it's Cor.ywheel.abrator that say funding is still in place - and we believe every word they've said don't we?? NOT....

    Report this comment

    Sandy.L

    Sunday, March 16, 2014

  • The UKIP Councillor Mat Smith is going to face charges over forging nomination papers which will most likely end up with another by election that will grant another seat back to the Conservatives. Things seem to be trundling along quite nicely lately.

    Report this comment

    Dickens

    Monday, March 17, 2014

  • Indeed. UKIP candidates and politicians seem to be drawn to the courts like moths to a flame. I believe it is a question of the calibre of those chosen. In the early days UKIP accepted anyone and if you could count to ten and spell your name correctly you were in. They are more choosy now because Farage is in trouble and UKIP is losing ground.

    Report this comment

    Dickens

    Monday, March 17, 2014

  • Quite amusing to see the multi poster dishing out on Lloyds Bank. Did they also raise concerns about the Icelandic banking I wonder? And How about the Coop bank connections which I assume NCC still have. Given a choice between the three I know which bank I would go to, even more so now that Lloyds have pulled out (I don't bank with them by the way.) Cory and NCC - writing is on the wall!!!

    Report this comment

    andy

    Saturday, March 15, 2014

  • Lloyds figures have more holes than a Swiss cheese. The tax payer funded bank has hung on by the fingernails and will soon be cut adrift to fend for itself. Goodbye Lloyds. Time to get your money out.

    Report this comment

    Stanley T

    Saturday, March 15, 2014

  • Interpol. The proposed incinerator at Kings Lynn will use BAM Nuttall as their main contractor. Legal action AmeyCespa is currently in the midst of ongoing legal action against BAM Nuttall, the contractor which installed the previous compost turning machinery which failed at the Waterbeach MBT plant. The machinery was manufactured by Austrian firm Kelag Umwelttechnik.

    Report this comment

    wattonlad

    Sunday, March 16, 2014

  • Looking at Pickles thumbs up to the incinerator in Oxfordshire (2011), thumbs up to Worcester (2012), thumbs up to Leicestershire (2012) and a parliamentary joint committee's thumbs up to Bedfordshire 2014, I would say the betting is on approval for the Saddlebow incinerator.

    Report this comment

    Rhombus

    Saturday, March 15, 2014

  • Del old friend you should be careful with the statements you make. If we put together clips from this comments page you say, in a nut shell, that it was decided and finalised in London that CW would build the incinerator by someone that we have no knowledge of. I have long argued that NCC have been used by DEFRA, via Enviros -who incidently had a consultant accompany Hull and co on the US site visits, the Enviros consultant prepared the report for ncc rather than ncc officers- and DECC. I presume the person you are pointing your finger at is Neil a man who is well known to me. You tell us that the decision made years ago is set in stone and that the EA permit was just a rubber stamp job- no surprise there we know they broke all the rules in their own book to pass it- and that planning consent is also a rubber stamp job. The committee fixing at local level, and predetermination, was a blatant farce witnessed by many so you may be right but what an admission to make!! You claim to have worked 30 years in London -presumably as a civil sevant of some sort - and are telling us that the controls put in place - planning and permitting - are automatically approved if London want something built by a particular business partner regardless of whether the development is viable, needed, fit for purpose, safe for health or the environment or will lead to 25 years + of funding cuts to public services to pay for it. You describe and condone corruption at the higest level and belittle the attempts straightforward honest people make to ensure a grave injustice is not inflicted upon the people of Lynn, and wider Norfolk in financial terms. If you are right what an awful place the UK is ! I presume you will also tell us that the plans for Coltishall and the NDR are similarly decided and will go ahead rubber stamped through any hurdle. As for the incinerator while the man at the top-if what you say has substance- may control what happens in the UK he will not control the European Courts. On a bright note you are doing a very good job at decimating the conservative party in Norfolk who would vote tory now after you have exposed what happens in government.

    Report this comment

    Canary Boy

    Monday, March 17, 2014

  • Stop press. I have just discovered that the incinerator will be financed by Wonga. The County Council think that 1,250% per week is every such a good deal. Your taxes will go up to £10,000 per garden shed sliding upwards if you dare own a dwelling with a bedroom in it. Councillors and officers will be exempt.

    Report this comment

    alecto

    Monday, March 17, 2014

  • I fully agree with you Larson, for too long Archant have ignored the childishly obs.cene names, but having many Asian friends, this person is beneath c.ontempt. Allowing any of this is a sad reflection on EDP but it does expose the ment.ality of ‘supporters’ of incineration. Pewty and D.ickens, what a pair!

    Report this comment

    Honest John

    Saturday, March 15, 2014

  • First a toxic incinerator and now toxic debt. How long can this stupidity go on?

    Report this comment

    alecto

    Saturday, March 15, 2014

  • True. Bill's no danger. Actually he is no one at all now is he ? Just some bloke who used to be and now is not. I would forget about him. Everyone else has.

    Report this comment

    Del Boy

    Monday, March 17, 2014

  • Raj, I think you'll find it's innit not isn't it. If you want to pretend to be an Asian, get it right.

    Report this comment

    Sugarbeet

    Saturday, March 15, 2014

  • Some may call it flattery but I prefer to call it parody, as it was intended as such.

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Very, very rattled....

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Everyone I know is turning their backs on Lloyds now. People are dumping accounts and business holders are moving out in droves. No one trusts them anymore.

    Report this comment

    Magwitch

    Saturday, March 15, 2014

  • That’s right F. We sent an entertainment party to your unit to cheer you up. Doesn’t seemed to have worked though.

    Report this comment

    Del Boy

    Sunday, March 16, 2014

  • Let me guess - you worked in the Light Entertainment department at the BBC?

    Report this comment

    User Removed

    Sunday, March 16, 2014

  • I wouldn't worry too much fenscape. Despite the fact he's had the story removed from the Lynn News site, there are still lots of people who remember the fact that he's been up in court. He'll never be elected again.

    Report this comment

    Shirley Stalker

    Sunday, March 16, 2014

  • Yes, very rattled!

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • "They may go down" Lol!!!

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • No just plain Jim. Apparantly there is more than one. Bit of a shock for you.

    Report this comment

    Jim Hacker

    Saturday, March 15, 2014

  • David Cameron promised to be the greenest government ever. We will find out at the next meeting if the conservatives can act on their manifesto and see sense. Or are they going to vote for the cancer factory.

    Report this comment

    Jack

    Friday, March 21, 2014

  • Surely not another....."James George "Jim" Hacker, Baron Hacker of Islington, KG, PC, BSc (Lond.), Hon. DCL (Oxon.) is a fictional character in the 1980s British sitcom Yes Minister and its sequel"

    Report this comment

    Sandy.L

    Saturday, March 15, 2014

  • I can see why Defra and Lloyds have changed their minds on funding the burner and I expect the insurance companies will load their policies. Situated on a flood zone. CW will not check waste prior to burning and they will have a clue how toxic the emissions from the chimney will be. CW has history of violations longer than the channel tunnel for polluting. Bad risk!

    Report this comment

    Interpol

    Sunday, March 16, 2014

  • Oh dear, look out he's rattled this morning

    Report this comment

    Bikerboy

    Saturday, March 15, 2014

  • This is somewhat strange and Lloyds probably know something we don't as whilst they have pulled out of this deal they are considering funding the incineration plant in Derbyshire.

    Report this comment

    Cuthbert J. Twillie

    Saturday, March 15, 2014

  • Just one other point. As for the banks two of my siblings get a jolly decent bonus from that sector every year and I must say it seems well earned. Jolly hard work sometimes and meetings can go on for several hours at a time. We occasionally meet at my club and they both look very tired at times. Fortunately they can look forward to early retirement on a very good package and well deserved it is too believe me old chap. If it was so easy more would aspire to that calling.

    Report this comment

    Sir Montague Baden-Philips

    Sunday, March 16, 2014

  • Del old friend you should be careful with the statements you make. If we put together clips from this comments page you say, in a nut shell, that it was decided and finalised in London that CW would build the incinerator by someone that we have no knowledge of. I have long argued that NCC have been used by DEFRA, via Enviros -who incidently had a consultant accompany Hull and co on the US site visits, the Enviros consultant prepared the report for ncc rather than ncc officers- and DECC. I presume the person you are pointing your finger at is Neil a man who is well known to me. You tell us that the decision made years ago is set in stone and that the EA permit was just a rubber stamp job- no surprise there we know they broke all the rules in their own book to pass it- and that planning consent is also a rubber stamp job. The committee f.ixing at local level, and predetermination, was a blatant farce witnessed by many so you may be right but what an admission to make!! You claim to have worked 30 years in London -presumably as a civil sevant of some sort - and are telling us that the controls put in place - planning and permitting - are automatically approved if London want something built by a particular business partner regardless of whether the development is viable, needed, fit for purpose, safe for health or the environment or will lead to 25 years + of funding cuts to public services to pay for it. You describe and condone cor.ruption at the higest level and belittle the attempts straightforward honest people make to ensure a grave inju.stice is not inflicted upon the people of Lynn, and wider Norfolk in financial terms. If you are right what an awful place the UK is ! I presume you will also tell us that the plans for Coltishall and the NDR are similarly decided and will go ahead rubber stamped through any hurdle. As for the incinerator while the man at the top-if what you say has substance- may control what happens in the UK he will not control the European Courts. On a bright note you are doing a very good job at decimating the conservative party in Norfolk who would vote tory now after you have exposed what happens in government.

    Report this comment

    Canary Boy

    Monday, March 17, 2014

  • Think you'll find the Conservatives finished last in the 2013 elections for that seat.

    Report this comment

    Bikerboy

    Monday, March 17, 2014

  • Poor old Derrick - who would have him after his fall from grace? Started believing the stuff he was writing to such an extent that he thought he was untouchable. What a pity that he spent so long wielding the knife that he didn't spot his colleague standing behind him with an axe.

    Report this comment

    Sailor Bill

    Monday, March 17, 2014

  • David Cameron promised to be the greenest government ever. We will find out at the next meeting if the conservatives can act on their manifesto and see sense. Or are they going to vote for the cancer factory.

    Report this comment

    Jack

    Friday, March 21, 2014

  • (I believe the takings are down in the Downham area already.)

    Report this comment

    User Removed

    Saturday, March 15, 2014

  • Watch out the grass has arrived.

    Report this comment

    Del Boy

    Sunday, March 16, 2014

  • If I find out my bank is now funding CW I will be looking for a new home for my investments. Good to hear that Lloyds listened to some high profile customers. I wonder if any other bank is now rethinking their position in view of potential customer backlash!

    Report this comment

    Canary Boy

    Saturday, March 15, 2014

  • Innit is Jamaican? Not to this Jamaican. And living in London for 30 years doesn't make you an expert on patois. Being Jamaican does. Do stop talking rubbish.

    Report this comment

    alecto

    Monday, March 17, 2014

  • Downham Con Club is just an hour and a half by train from London, isn't it?

    Report this comment

    User Removed

    Sunday, March 16, 2014

  • While on the subject might as well forget Derrick too. Off to another pasture soon. Just wringing the last few quid out of the game before moving on. About 50k last year between him and the missus. Very nice.

    Report this comment

    Del Boy

    Monday, March 17, 2014

  • There is a good deal of truth in that Lloyds is in trouble and it is the most likely reason they have pulled away. Lack of funds. Replacements for this type of government backed enterprise are not hard to find and it will not be a stumbling block. My business is computer systems and councils throw thousands of millions a year into it. Problems with finance for any signed deal is unheard of where local government is concerned and the sort of money talked of here in relative terms is peanuts.

    Report this comment

    Jim Hacker

    Saturday, March 15, 2014

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