Interserve consortium closes on PFI contract

Interserve said its consortium has reached financial close on contract to create and maintain Northern Ireland's first PFI hospital worth approximately £270m. Interserve will invest approximately £9.2m in the project, representing 31.5% of the equity and subordinated debt.The other partners in the consortium, which was named preferred bidder for the project in September 2008, are Allied Irish, FCC Construction SA and P Elliott & Co. The latter two will build the hospital in Enniskillen, County Fermanagh.Interserve will provide services such as mechanical and electrical maintenance, estates management, grounds maintenance for 30 years once the hospital opens."This is the second PFI contract on which we have reached financial close this year - Derry Schools, also in Northern Ireland, was the first," said chief executive Adrian Ringrose."These important projects, together with other preferred bidder appointments thus far in 2009 in the waste and education sectors, demonstrate Interserve's strength in key social infrastructure sectors."