23rd Mar 2005 07:00
Carillion PLC23 March 2005 23 March 2005 Carillion reaches financial close on £150 million Scottish schools PPP project Support services and construction company Carillion and its joint venturepartners have achieved financial close for a PPP project to build 10 new schoolson the outskirts of Glasgow, worth around £150 million to Carillion includingconstruction and concession company turnover. Carillion will carry out £100 million of new build on nursery, primary andsecondary schools for Renfrewshire Council as part of a joint venture with Ameyand Bank of Scotland Corporate to provide state of the art facilities for over6,000 children located in Paisley, Linwood and Johnstone. Construction is duefor completion in December 2007. Carillion also expects to invest some £4million of equity in the Special Purpose Concession company. Commenting on the project, Carillion's chief executive John McDonough said: "Weare delighted to have reached financial close on the Renfrewshire schoolsproject. "Our integrated approach to the provision of educational solutions to meet awide variety of needs is designed to provide optimum flexibility in theconstantly evolving world of education. The provision of ten new facilitiesacross nine sites through this public-private partnership will create firstclass accommodation to meet the combined needs of full-time education andcommunity learning." He added: "This win adds to the considerable success we have already achieved inthe education sector over the past year. This is an increasingly importantgrowth sector for Carillion and we expect further opportunities to bid for PPPand non-PPP projects under the Government's £25 billion Building Schools for theFuture programme." Notes to editors Equity in the project is split as follows: Amey: 35%, Bank of ScotlandCorporate: 35%, Carillion: 30% Carillion is the preferred bidder on three other PPP projects - the QueenAlexandra Hospital in Portsmouth, an Independent Sector Treatment Centre inBasildon and a social housing project in North East Derbyshire, together worth£1.2 billion For further information contactJohn Denning, Director Group Corporate Affairs 01902 316384 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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