29th Nov 2013 08:23
LONDON (Alliance News) - Infrastructure giant Carillon PLC Friday said it has been selected by Sunderland City Council as the preferred bidder to form a strategic partnership to deliver a range of property services for the city's regeneration programme, in a deal worth up to GBP800 million.
This contract, which will initially focus on the redevelopment of key sites across the city, is worth at least GBPP100 million over the first eight years and potentially up to GBP800 million over 20 years, Carillon said.
The Carillion/Sunderland City Council joint venture will be supported by the Igloo Regeneration Fund, which will provide development and asset management services to the joint venture.
The Igloo Regeneration Fund is a partnership of pension, life and charity funds managed by Aviva Investors, which invests in sustainable urban regeneration
Carillion share were off 0.90 pence per share at 299.90p in early trade Friday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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