21st Mar 2005 07:00
Interserve Wins ‚£105m Telford Schools PFIInterserve, the infrastructure and facilities management group, has reachedfinancial close on the PFI contract with the Borough of Telford & Wrekin todesign, build and provide facilities services to a major educational complex.The services to be delivered by Interserve will be worth approximately ‚£105million.The Hadley Learning Community Project will encompass, in a single extensivebuilding, a primary school for 420 pupils, a secondary school for 1,200, aschool for 150 children with severe and profound learning difficulties, a50-place early education and childcare facility, a sports and leisure centreand an arts centre including a 150-seat theatre. The new facilities will alsobe available for community use.Four existing schools will be brought together in the project and Interservewill begin providing interim services in these from April 2006. Construction ofthe Hadley Learning Community Project will begin immediately with the secondaryschool due to open in September 2006 and the rest of the facilities in January2007. Interserve will deliver full services in the new facilities for a periodof 28 years. These will include:- caretaking and porterage- estates management- catering, cleaning and security- helpdesk- grounds maintenance- childcareInterserve Investments Plc will manage the group's ‚£3.8 million investment,which represents 50 per cent of the equity and loan stock; HBOS will own theother 50 per cent. This is the 10th time the two organisations have worked asPFI partners."We see this as a particularly innovative development," remarked AdrianRingrose, Chief Executive of Interserve Plc, "and we're looking forward toproviding something really special for the people of Telford which will be avaluable community resource for many years to come."Borough of Telford & Wrekin's cabinet member for education councillor PeggieHarrison said, "We are really excited about this flagship project which will bea national exemplar for delivering 21st century education, training and a wholerange of services to the whole community."ENDINTERSERVE PLCRelated Shares:
Interserve