Thurrock Council faces £20m loss after secretive investment goes bad

THURROCK council , already the subject of controversy over its financial practices, could lose £20m of taxpayers’ money after a secretive investment deal turned sour, reports The Bureau of Investigative Journalism.

As part of its opaque £800m investment strategy, Thurrock invested £30m in PWE Holdings, a sustainable energy business that supplies eco-friendly generators to leisure centres. The investment, made in 2017 via a bond, was supposed to fund the business’s expansion through “new installations and operations”.

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https://www.thebureauinvestigates.com/stories/2020-12-17/council-faces-20m-loss-after-secretive-investment-goes-bad

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