As I said to Rhun ap Iorwerth last week, I'm afraid, as the contract contains commercially sensitive information, we wouldn't be looking to publish it. But, there is always an element of profit when we procure infrastructure. In this case, however, the precise amount of that profit will be determined by the performance of the company over the life of the contract, and that's one of the benefits of the MIM scheme, in the sense that the pay is very much performance related.

The procurement exercise tested each of the three shortlisted bidders on quality and price in their submissions, and Meridiam submitted the most economically advantageous tender in accordance with the Public Contracts Regulations 2015, so I can certainly provide those assurances and, as Rhun ap Iorwerth knows, Welsh Government is taking a stake in this exercise as well, which means that we will be the beneficiaries of any profits made alongside those other partners.