Ann: Sconi Project in Due Diligence Phase for NAIF funding, page-241

Where did I suggest that 'market failure' equates with company failure? I didn't. That's you making assumptions and incorrectly reading between the lines - something that ura-bull, for example, does with everyone of my posts.

I studied Economics at Uni and am totally aware of what 'market failure' is. It will occur here if the sum total of the private benefits and public benefits are greater than the willingness of the private sector to pay (i.e. in the form of providing capital) and the Government does not step in.

That is the whole point of NAIF's involvement here. They have to 'fill the financing gap' either by convincing the other funders that the potential 'private commercial benefits' justify 100% funding (the preferred option) or provide some of the finance (the fall-back option). Or the project lapses.