26th Sep 2006 08:47
AMEC PLC26 September 2006 AMEC plc 26 September 2006 AMEC JV appointed preferred bidder for Scottish schools PPP project London, United Kingdom (26 September 2006) - AMEC plc, the international projectmanagement and services company, announces that an AMEC-led joint venture hasbeen appointed preferred bidder for the PPP contract to deliver six newsecondary schools for East Dunbartonshire Council. The 30-year concession has been awarded to InspirED, the AMEC, John Laing andInnisfree joint venture which also recently reached financial close on the £319million South Lanarkshire Council secondary schools PPP. In addition to its equity investment of around £3.5 million, AMEC will benefitfrom contracts to design and construct the schools, redevelop surplus land onfive sites and provide estate management services over the concession period,with a total value over £125 million. Financial close is targeted for December2006, with construction beginning immediately thereafter and full completionscheduled for mid-2009. "This is another important step forward in our strategy of carefully selectedinvestment in complex PPP schemes in which our investment, property development,design, delivery and maintenance skills enable us to secure multiple incomestreams over the long term," said Sir Peter Mason, chief executive of AMEC."PPP, urban regeneration and wind energy projects together make up a stronginvestment portfolio from which we expect to generate substantial value in thefuture." Excluding the East Dunbartonshire development, AMEC's PPP portfolio comprises 12projects, seven of which are operational. Also, the company is currentlypursuing three other PPP projects: two hospitals in Fife and Middlesbrough and aBuilding Schools for the Future project in Knowsley. Investor Relations contact: Neil Jamieson, Director of Investor Relations +44 (0)207 634 0000 Media contacts: Charles Reynolds, Head of Media Relations +44 (0)20 7634 0024 Frank Stokes, Media Relations Manager +44 (0)1789 208477 Notes to Editors: AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers across thepublic and private sectors. AMEC employs more than 20,000 people working from anetwork of offices throughout the UK, US and Canada, as well as regional officesand projects worldwide. AMEC's shares are traded on the London Stock Exchangewhere the company is listed in the Support Services sector (LSE: AMEC.L).www.amec.com Innisfree is the leading infrastructure investment group in the UK sponsoringand making long term investments in PFI and PPP infrastructure projects.Innisfree currently has a platform of 46 PFI infrastructure projects with acapital value of some £8 billion covering health, education, transport andgovernment accommodation. Innisfree is the largest private sector investor inPFI education projects in the UK. It has current commitments of some £90 millionto 16 education projects costing £1.4 billion. These comprise over 270 schoolseducating over 100,000 children. John Laing plc (LSE: LNGO) is a specialist provider of facilities in the PFI andPPP markets with a long-term perspective and approach. The company manages anddelivers projects from planning and funding through to design, construction andoperation. It is actively involved in the management of a wide range ofeducation, health, police, defence, roads, rail and special purpose governmentfacilities www.laing.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L