How much Scottish Enterprise invested in the Longannet coal mine and what the prospects are for the recovery of the money.

Answered Asked by Tricia Marwick SNP Lodged 8 Apr 2002

The question

To ask the Scottish Executive how much Scottish Enterprise invested in the Longannet coal mine and what the prospects are for the recovery of the money.

The answer

Answered by Iain Gray on 13 May 2002 · 35 days after it was lodged, 6 days after it was due

In June 1999, Scottish Enterprise provided a guarantee to underwrite £5.4 million of bank borrowing by Scottish Coal (Deep Mine) Ltd in order to allow the company to continue trading. The level of this guarantee was varied on several occasions in line with the company's bank borrowing requirements.Under the terms of the guarantee agreement, Scottish Enterprise has now paid out £4.514 million to the Royal Bank of Scotland.

In the Official Report

No contribution in the Official Report cites S1W-24906 by reference.