21st Jun 2007 14:00
Costain Group PLC21 June 2007 Costain Group PLC("Costain" or the "Group") Financial Close on Second Phase of Three Shires PFI Costain is pleased to announce that the Arden Partnership, its 50:50 jointventure with Alfred McAlpine, has reached financial close on The LeicesterProject, the second of three phased Financial Closes to be achieved in the£76.5m Three Shires PFI Scheme. The deal was financed by NIBC Bank NV as LeadArranger. The Leicester Learning Disabilities Unit (LDU) Scheme is a £10.5m project forthe design, build and operation of a 2700m2 specialist assessment and treatmentcentre for persons with Learning Disabilities, to be built on the sitepreviously occupied by the Gorse Hill Hospital in Leicester. Design andconstruction work will be carried out by Costain, and Alfred McAlpine willprovide the hard FM services. Phase one of the project, the £30m Lincolnshire Community Hospital Project,reached Financial Close in May and is now under construction, whilst the thirdphase Derby Project, worth £36m, is due to reach Financial Close at the end ofthe summer. Andrew Wyllie, Chief Executive of Costain, said: "This is an important next step in delivering this significant health sector PFIscheme. The project is progressing well, and we are confident of reachingFinancial Close on the third and final phase in due course." 21 June 2007 ENQUIRIES:Costain Group PLC Tel: 01628 842 444Andrew Wyllie, Chief ExecutiveTony Bickerstaff, Finance DirectorGraham Read, Public Relations College Hill Tel: 020 7457 2020Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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