Priority Schools Building Programme

RNS Number : 3536M

International Public Partnership Ld

15 July 2014

 



15 July 2014

INPP, as part of the Amber Consortium, is chosen as the selected bidder to fund five batches of schools under the Priority Schools Building Programme and the UK Government's PF2 initiative

International Public Partnerships Limited (INPP) is pleased to note the announcement made by the UK Education Funding Agency that the Amber Consortium, of which INPP is part, has been chosen as the selected bidder to fund five batches of schools being delivered through the Priority Schools Building Programme (PSBP).

The Priority School Building Programme is a centrally managed government programme set up to address the needs of the schools most in need of urgent repair. Through the programme, 261 schools will be rebuilt or have their condition needs met by the Education Funding Agency (EFA).

The first school will be completed in 2014 with all schools within the programme delivered by the end of 2017.  As part of the programme, 46 schools in five batches with a value of circa £700m are being delivered via private finance funding using the PF2 structure - the government's new approach to private finance.  These will be financed by the Amber Consortium.  INPP expects to provide approximately 10% of this funding as each batch reaches financial close over the next 12 months.

Further details will be provided as each financial close date is reached.

For further information:

Erica Sibree                                                    [phone]

Amber Fund Management Limited                                

Nick Westlake/Hugh Jonathan                            [phone]/1263

Numis Securities       

Ed Berry/Mitch Barltrop                                     [phone] / 1039
FTI Consulting

Notes to Editors:

About the Priority Schools Rebuilding Programme

Further information about the programme is available at www.gov.uk/government/publications/psbp-overview/priority-school-building-programme.

About International Public Partnerships (INPP):

International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 115 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists approximately 70 dedicated staff who manage, advise on and originate projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

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