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British Waterways searching for new partner
British Waterways is actively looking for a partner to develop property interests along 2,000 miles of canals. In the past the agency has been dependent on government funding or charitable sources such as the National Lottery, for economic regeneration around neglected inland waterways. Advisors from King Sturge, NM Rothschild and Sons and Ashurst Morris Crisp have been appointed to identify an appropriate private sector partner. A preliminary list of suitable bidders is expected to be released next week; interest in the prospective project is reported as being strong. British Waterways commercial director, Robin Evans, says the inland waterways are thriving and expanding through regeneration and restoration schemes: We are now seeking partners with similar track records of excellence and vision to bring their expertise to these new joint ventures. The Deputy Prime Minister, John Prescott, says the scheme will bring much needed private investment in the infrastructure of the network, which will, in turn, speed up the delivery of benefits for the environment, boaters, anglers, walkers and other visitors.
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