11th Jan 2007 07:01
Carillion PLC11 January 2007 11 January 2007 Carillion reaches financial close on South Ayrshire schools PPP contract with a capital value of £76 million Support services and construction company Carillion has achieved financial closeon a contract with a capital value of £76 million to build six new PublicPrivate Partnership (PPP) schools in South Ayrshire. Education 4 Ayrshire Ltd, a joint venture between Carillion plc (47.5%), Bank ofScotland Corporate (47.5%) and Cyril Sweett Holdings Limited (5%), will design,build and operate six new schools for South Ayrshire Council under the 32.5 yearconcession. Bank of Scotland Corporate will also be providing the debtfacilities for the transaction. The project involves the design, construction, maintenance and facilitiesmanagement for two new senior schools (Prestwick and Belmont), three new primaryschools (Alloway, Barassie, and Monkton) and an extension to Kyle Academy. Carillion will invest some £3.2 million of equity in the project and also carryout the construction work, worth £76 million over the course of two and a halfyears. Carillion chief executive John McDonough said: "Education is a key growth sectorfor Carillion. Therefore, we are delighted to achieve financial close on oursecond contract in Scotland for PPP schools and look forward to working withSouth Ayrshire to provide the new facilities. Our success in this sectorreflects our ability to provide integrated solutions that meet a wide variety ofneeds and provide optimum flexibility in the constantly evolving world ofeducation." Notes to Editors Carillion is a leading provider of integrated solutions for buildings,infrastructure and services in the UK, with well-established businessesinternationally. As a FTSE 250 company with annual revenue in the region of £4billion and around 50,000 employees, the Group delivers high quality,cost-effective and sustainable solutions using its wide range of skills andresources. Its key target markets are education, health, defence, transport(rail and road infrastructure), building and facilities management and supportservices for public and private sector customers. Carillion's first education PPP contract in Scotland was the £100m RenfrewshireSchools project for the construction of nine new schools, four of which are nowopen, with the remainder due for completion by December 2007. The facilities management contract for South Ayrshire Schools PPP will becarried out by Mitie plc. 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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