New fund from tram contractor

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The contractor building Edinburgh’s tram line is to launch a new global infrastructure fund.

It is hoped that the new Bilfinger Berger Global Infrastructure fund will raise £245 million at its launch on the London Stock Exchange next month.

Money raised through the share sale will be ploughed into a portfolio of 20 private finance initiative and public private partnership assets.

The portfolio is expected to be largely focused on roads and social infrastructure projects.

The German company has had a long-running dispute with tram company TIE over the creation of the Edinburgh tram network and was last year branded a “delinquent contractor” by former TIE chairman David Mackay. However, city council bosses have said the relationship has improved in recent times after the project was brought “in house”.