British Waterways urged to form joint venture to exploit £250m property assets

The government is urging British Waterways (BW) to establish a joint venture with a bank or insurance company to exploit its £250m property assets. This would give it the funds it needs to prepare sites or to acquire land to complete an attractive site. It is also looking at establishing partnerships with the private sector to improve bridge, reservoir, aqueduct and canal maintenance.The government is to increase BW’s annual grant so it can reduce its backlog of urgent maintenance work. The increase amounts to £8m a year over three years to £59m. Financial Times 19/02/99 page 13 The Independent 19/02/99 page 9 The Guardian 19/02/99 page 11