Project Stake Holders Chunnel

Topics: Channel Tunnel, English Channel, Eurostar Pages: 3 (888 words) Published: August 28, 2013
Project stake holders
Project stake holders are those groups or individuals that can affect, or are affected by, the project (N.J.Smith, 2002). As one of the greatest engineering and political feats of the twentieth century, The Chunnel project had thousands of identifiable project stake holders that can be separated into two clearly definable categories’, Primary and secondary. Primary stake holders

Primary stake holders are those that directly influence or are influenced by the project )N.J. Smith, 2002). Generally primary stake holders are sponsors, equity holders and contractors, however in the case of the Chunnel a governing body can also be identified as a primary stake holder. In 1986 the project was awarded to the sponsor, Channel Tunnel group/FranceManche (CTG/FM). The CTG/FM was formed as a consortium on the 2nd of July 1985 and consisted of two banks and five construction companies from Britain as well as three banks and five construction companies from France. Eurotunnel is the successor of CTG/FM who describes themselves as a binational with their primary business in infrastructure management and railway transport. On the 12th of February 1986 the treaty of Canterbury was signed, and with it the intergovernmental commission (IGC) was born. The IGC speaks in the name of and for both the British and French Governments, its design was to settle the differences in the legislature between the two countries with respect to the Channel Tunnel project. The IGC is made of an equal appointment of members from both Britain and France, who would greatly influence the channel Tunnel project both positively and negatively. The Concession agreement was signed on the 14th of March 1986, this agreement outlined among other agreements, that the French and British Governments would be entrusting and not contributing the financing of the Channel Tunnel. The CTG/FM pursued equity and loan capital from the private through a consortium of 206 banks worldwide. The equity...
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