States of Guernsey earmarks £5m for new Condor ferry

The MV Straitsman, which will be renamed, is currently operating in New Zealand

Guernsey's States has earmarked £5m to be spent on the purchase of a new ferry for Condor.

The money would be invested in the Guernsey Investment Fund, before being used as part of the ferry purchase.

The new ferry has not yet been bought according to Policy and Resources Committee.

President of the committee, Deputy Peter Ferbrache, said the "intent" would be to have a new service level agreement with Condor.

He said: "We are all aware the Condor timetable has been criticised at times and the intent is that the arrangements will be better than they have been."

The ferry is currently called MV Straitsman and operating in New Zealand.

Condor said earlier this month it was set to rename the vessel, the Condor Islander.

Mr Ferbrache told a scrutiny panel his committee was working on an agreement with Jersey and Condor on services.

If that was not possible, Guernsey's States would enter into its own discussions with the company, he said.

"We are still some way away from a tri-party agreement. We are in discussion with Jersey, so these discussions continue.

"But we are some distance from going it alone," he added.

The Guernsey Investment Fund was set up in February 2018, with the States committing to invest £25m of taxpayers' money.

The aim of the body was to "achieve long-term capital growth through investments which have a Bailiwick of Guernsey focus or which may benefit, directly or indirectly, the development of the Bailiwick".

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