26th May 2020 09:46
(Alliance News) - International Public Partnerships Ltd on Tuesday said it has decided to commit a further GBP6.8 million into UK schools.
The infrastructure investment company has acquired an accretive additional interest in the Essex Building Schools for the Future project.
INPP has acquired the additional interest in the project from Skanska UK Pension Fund, RM PLC, and the Essex County Council to increase the company's existing investment to 28% on phase 1 of the project and 100% on phase 2.
The project includes Castle View School and Cornelius Vermuyden School and Arts College on Canvey Island, Columbus New Model Special School in Chelmsford, and Woodlands School in Basildon. At present all of the schools are open to children of key workers and project operations are being maintained in the usual way notwithstanding the Covid-19 pandemic.
INPP Chair Mike Gerrard said: "Despite the ongoing uncertainty and disruption caused by the Covid-19 pandemic, the company maintains access to a pipeline of investment opportunities, which we continue to evaluate in parallel with our focus on maintaining the robust operation of our existing portfolio and on supporting the local communities which it serves".
Shares in INPP were up 0.9% at 161.46 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
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