Battersea Power Station Funding Issues Denied

The developers of Battersea Power Station have reacted angrily to press reports claiming that the project is in trouble and has failed to secure the necessary backing to finance it. Reports have also claimed that the development has failed to find a funding partner, something that is giving the bankers backing the scheme cold feet.Whilst it's true that things are happening slower than planned, developer Parkview certainly has no trouble in securing the cash saying that they completely deny any mentions of funding problems and "have anything other than 100% support from their banking partners, RBS and Barclays" adding they are "totally solvent and have credit facilities in place."Expanding on the delays it seems simply a case of getting all the contracts and companies involved in place with our source saying, "it's arguably the most ambitious regeneration project in London outside of the Olympic Village, so it's hardly surprising that it's taking a while to get the right partnership in place."Given there are 15 different firms dealing with the design alone, 405,000 square metres of space, a 2000 seat auditorium, plus a new station and footbridge across the Thames drawing in the likes of Network Rail too, makes it an enormous logistical undertaking that does not have a build by date like the 2012 Olympics and can afford to have every t crossed to get it right and succeed where others have failed in renovating and modernising one of the most iconic industrial buildings in the world.