Interserve Regulatory News (IRV)

5 Jun 2007 07:00

5th June 2007

INTERSERVE SELECTED FOR HEALTH AND EDUCATION PROJECTS WORTH OVER ‚£270m

Interserve, the services, maintenance and building group, has been selected for a series of health projects and an educational PFI scheme worth a total of more than ‚£270 million.

The health projects have been awarded under Welsh Health Estates' Designed for Life: Building for Wales framework programme and have an aggregate value of more than ‚£200 million. Interserve's consortium, Interserve Health Wales, will undertake design, healthcare planning, cost consultancy, services installation, CDM (construction, design and management) co-ordination, professional services consultancy and construction.

The largest project is Newport Local General Hospital for Gwent Healthcare NHS Trust and accounts for just over half the total. The others are: the reconfiguration of mental health services within the Swansea area; a strategic programme for mental health facilities at Llandudno Hospital, Cardiff; an adult mental health unit at Wrexham Maelor Hospital; and a new breast-care facility at Prince Phillip Hospital, Llanelli.

The educational PFI scheme, for which Interserve, in consortium with long-standing building partner O'Hare & McGovern, has been named preferred bidder, is the ‚£70 million Down & Connor and De La Salle Schools project. It consists of the design, build, operation and maintenance of four schools in Counties Down and Antrim which, together, will cater for 2,650 pupils. Three of these are for St MacNissi's Educational Trust and one for the Trustees of the De La Salle Congregation.

Construction will begin once the final terms of the contract are agreed and will be staggered over two years. As well as investing around ‚£2.1 million of equity and subordinated debt in the project, Interserve will deliver facilities management services valued at an estimated ‚£33 million over a period of 25 years from the opening of the schools. These services will include security, waste management, porterage, site maintenance and energy management.

Adrian Ringrose, Chief Executive of Interserve Plc, said, "Interserve's selection for these projects highlights the value of our multi-faceted approach to contract structuring, where we combine central resources with regional delivery and foster long-term partnerships to bring in specialist expertise."

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For further information please contact:

Giles Scott 0118 960 2307

Head of Corporate Communications

Neil Bennett / Elizabeth Morley 020 7379 5151Maitland