25th May 2006 17:17
Kier Group PLC25 May 2006 25 May 2006 Kier reaches financial close on Oldham PFI schools Kier Group, in partnership with Dexia Public Finance Bank (Academy Services),has now reached financial close on its bid to provide two new schools for OldhamBorough Council under the private finance initiative (PFI). The project has anet present value of £97m. The Kier project team comprises PFI specialist Kier Project Investment andfacilities management subsidiary Kier Managed Services as service provider forthe 25-year term. Construction of the new schools, to replace the existingFailsworth and The Radclyffe secondary schools, will be carried out by KierBuild and Kier North West under a £54.4m construction contract. Both schools are scheduled to open in February 2008. Kier Group chief executive John Dodds commented: "We are delighted thatcontracts have now been signed with Oldham Council and look forward to workingclosely with them to deliver these new schools as part of the Government'snational education initiative." - ENDS - For more information, please contact: Deena MattarKier Group plc Tel: 01767 640111 Caroline SturdyMadano Partnership Tel: 020 7593 4000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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