| LIVESTOCK CASSETTE FUNDING OPTIONS | |
| 28 January 2002 NorthLink Orkney and Shetland Ferries Ltd were involved last week (Thursday, January 24) in livestock cassette funding talks with the Scottish Executive and Shetland Leasing and Property Developments Ltd (SLAP). Alternatives are also being examined and one option in particular is being actively pursued. The cassette system is NorthLink’s solution – fully compliant with current and future legislation – to the issue of transporting livestock to and from the Northern Isles. All parties agreed that the meeting had been useful and constructive. SLAP indicated their willingness to facilitate financing of the system providing that a satisfactory rate of financial return could be achieved and on the basis of Scottish Executive underwriting of the volume of animals to be transhipped. SLAP also indicated that it would seek from the Executive an assurance that no additional burden would fall on island communities. NorthLink chief executive John Horton said: “We understand the concerns of SLAP that investing to implement a new system could increase costs to producers. If we are to have the cassettes designed and built to carry livestock for the forthcoming season starting in September then we must place orders immediately. We are concerned that resolution of the provisos which SLAP seeks could take some time. “In order to avoid not having any transport facilities for farmers and crofters we have therefore spent the past few days examining alternative solutions. An accommodation with SLAP would have been an ideal solution but while we understand and appreciate the concerns regarding prices we thought it prudent to examine other alternatives and we are now actively pursuing one of these,” he said. | |