Last checked at 10 Dec 2014 07:05
10 December 2014
Carillion joint venture appointed as the Selected Bidder for £190 million Public Private Partnership project to deliver the Midlands Private Finance Batch under the Priority School Building Programme (PSBP)
A Joint Venture comprising Carillion and Equitix will finance, design, build and provide hard facilities management for the eight schools that comprise the Midlands Private Finance Batch under the PSPB.
This programme forms part of the Government's £750 million Priority School Building Programme through which the Education Funding Agency is procuring projects to renew those parts of the schools estate in England that have been prioritised for replacement or upgrading.
Carillion expects to invest up to approximately £9 million of equity in the project from which we also expect to generate construction and services revenues of approximately £190 million over the life of the 27-year construction and concession contract.
The Midlands Priority Schools Building Programme will improve education facilities and outcomes for the pupils and staff in the eight schools listed below, by replacing substandard buildings and providing excellent facilities to support teaching and learning.
Schools
Alfreton Grange Arts College, Derbyshire
ARK Kings Academy, Birmingham
Greenwood Academy, Birmingham
Plantsbrook School, Birmingham
President Kennedy School, Coventry
The Phoenix Collegiate, Sandwell
The Queen Elizabeth Academy, Warwickshire
Top Valley Academy, Nottingham
Carillion Chief Executive, Richard Howson said: "We are delighted that we have been appointed as the Selected Bidder for the Midlands Private Finance Batch under the Priority School Building Programme. Carillion is a market leader in the education sector having delivered around 180 new schools and academies through a combination of privately and publicly financed projects and we look forward to working closely with the Education Funding Agency and the schools to create excellent facilities for pupils and staff.
"This is the second major PPP project in the UK for which we have been selected as the preferred bidder this year, following our success in being selected for the Aberdeen Western Peripheral Route in which we will invest some £20 million of equity and from which we expect to generate around £175 million of construction revenue."
Notes to Editors
Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities. The Group had annual revenue in 2013 of some £4.1 billion, employs around 40,000 people and operates across the UK, in the Middle East and Canada.
The Group has four business segments.
Support services - this includes facilities management, facilities services, energy services, utility services, road maintenance, rail services and consultancy services.
Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure, mainly in the Defence, Health, Education, Transport and Secure accommodation sectors.
Middle East construction services - this includes building and civil engineering activities in the Middle East.
Construction services (excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.
This and other Carillion news releases can be found at www.carillionplc.com
For more information
John Denning, Director Group Corporate Affairs, Carillion plc + 44 (0) 1902 316426
Finsbury
James Murgatroyd or Gordon Simpson +44 (0) 207 2513801