Decision details

Greater Manchester Investment Framework: Conditional Project Approval

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

 

  1. That a loan of up to £3,500,000 to P. Fahey and Sons (U.K.) Limited be approved.

 

  1. That an amendment to a loan provided to ClearCycle Ltd be approved.

 

  1. That authority be delegated to the Group Chief Executive and Group Chief Finance Officer, in consultation with the Portfolio Lead for Investment and Resources, to approve projects for funding and agree urgent variations to the terms of funding in the period 28 June March to 21 August 2025.

 

  1. That authority be delegated to the Group Chief Finance Officer and the Group Solicitor and the Group Solicitor and Monitoring Officer to review the due diligence information in respect of the above investments, and, subject to their satisfactory review and agreement of the due diligence information and the overall detailed commercial terms of the investments, to sign off any outstanding conditions, issue final approvals and complete any necessary related documentation in respect of these.

Publication date: 01/07/2025

Date of decision: 27/06/2025

Decided at meeting: 27/06/2025 - Greater Manchester Combined Authority

Effective from: 09/07/2025

Accompanying Documents: