Last checked at 
15 Sep 2008 07:23
15 September 2008
Babcock & Brown Public Partnerships Awarded Alberta Schools Concession
Alberta Schools is BBPP's second Canadian "P3" (Public Private Partnership) project and was commissioned by the Alberta Government through Alberta Infrastructure. The contract is for the design, construction, finance and maintenance of 9 schools in Edmonton and 9 schools in Calgary. The schools are scheduled to complete construction in July 2010. The concession period is 32 years, including a 22 month construction period.
Giles Frost, Director of BBPP, said "This is an excellent investment in what is Canada's largest Kindergarten to Grade 9 (K-9) schools project to date. The project has a traditional PPP structure and offers strong and long term cashflows, has debt terms matched to the concession length and fully hedged interest rates. BBPP is investing approximately CAD$28m (£15m). This transaction demonstrates the continued international growth of the PPP market."
"I am also pleased to announce that BBPP has now become a constituent of the FTSE 250."
For further information, please contact:
Babcock & Brown Public Partnerships +44 (0)20 7203 7300
Investors Bianca Francis
Media Anthony Kennaway