Carillion PLC Re Contract (1599W)
August 17 2015 - 2:00AM
UK Regulatory
TIDMCLLN
RNS Number : 1599W
Carillion PLC
17 August 2015
17 August 2015
Carillion achieves financial close on the Midlands Priority
School Building Programme private finance batch - GBP187m of
construction and support services revenue plus an equity investment
of GBP5.5m
A Carillion Joint Venture, PSBP Midlands Limited, has achieved
financial close on the Midlands Priority School Building Programme,
a 25-year private finance concession contract (a Public Private
Partnership) using the UK Government's PF2 model.
The Midlands Priority School Building Programme will improve
education facilities and outcomes for the students and staff in the
eight schools listed below by replacing existing substandard
buildings. The new schools will be constructed over a two-year
period to the highest standards of sustainability and provide
excellent facilities to support teaching and learning in addition
to providing excellent new facilities for the local community.
Carillion expects to invest some GBP5.5 million of equity in the
project and Carillion will also build the schools at a capital cost
of GBP138 million. Hard facilities management and life-cycle
maintenance services will also be delivered by Carillion and these
services are expected to generate approximately GBP49 million of
revenue over the life of the concession contract.
As the leading provider of apprenticeships and training in its
sector, Carillion will use this project as a further opportunity to
provide training and apprenticeship opportunities as well
maximising the use of local suppliers.
Commenting, Carillion Chief Executive, Richard Howson, said: "We
are delighted to have achieved financial close on this important
schools programme. Carillion is a market leader in the education
sector, having delivered some 150 schools over recent years, many
of which were Public Private Partnership projects. This latest
project has been an excellent example of collaboration between the
public and private sectors and we look forward to working with the
Education Funding Agency to deliver state of the art facilities to
support its objectives for creating outstanding learning
environments for students".
Schools in the Midlands Priority Programme
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
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 2014 of some GBP4.1 billion, employs around 42,000 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 businesses in the UK,
Canada and the Middle East.
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 906333
Finsbury
James Murgatroyd or Gordon Simpson +44 (0) 207 2513801
This information is provided by RNS
The company news service from the London Stock Exchange
END
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