2nd Sep 2015 06:37
LONDON (Alliance News) - International Public Partnerships Ltd Wednesday said it has been chosen as a preferred bidder as part of a consortium to design and deliver 15 schools across 12 sites in Australia.
The infrastructure investment company said the Learning Communities Victoria Consortium has been chosen as the preferred bidder to design, build, finance and maintain the New Schools Public Private Partnership project by the Victorian Department of Education and Training.
International Public Partnerships said it will provide 100% of the project risk capital for the project, which is comprised of 15 schools across 12 sites over two tranches.
Other members in the consortium, which will all deliver different parts of the project including construction, facilities management and community services, include Watpac Construction, Spotless and the YMCA. The sponsor of the consortium is Amber Infrastructure.
"This New Schools Private Public Partnership project builds on the company's educational projects across Australia, the UK and Canada and will broaden its Australian investment portfolio," IPP said.
"Having been announced as the preferred bidder, Learning Communities Victoria will now work closely with the State Project team to conclude the contracting and financing," it added.
Construction of the project is expected to begin in the fourth quarter of 2015, and the first tranche of schools will be delivered in time for the start of the 2017 school year, with the second tranche of schools being delivered in time for the start of the following school year.
International Public Partnerships said it will release further details in the fourth quarter when the deal reaches financial closure.
By Joshua Warner; [email protected]; @JoshAlliance
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