Carillion joint venture achieves financial close
26 July 2016
Carillion joint venture achieves financial close on Irish Schools Bundle 5 Public Private Partnership project with an estimated value to Carillion of approximately £190m
A Carillion Joint Venture, Inspiredspaces Bundle 5 (Ireland), which is a 50:50 joint venture between Carillion and Dutch Infrastructure Fund, has achieved financial close on the Irish Schools Bundle 5 Public Private Partnership project, which has been procured by the Department of Education and Skills, with Ireland's National Treasury Management Agency acting as agent on its behalf.
The joint venture will be responsible for financing, building, operating and maintaining five schools and an institute of further education that comprise Bundle Five of its schools Public Private Partnership programme, located in counties Meath, Carlow, Wicklow and Wexford. The joint venture will invest £9 million of equity in the project, of which Carillion's share will be £4.5 million. Carillion will also carry out the construction and deliver support services over the 27-year concession period and these activities together with our equity investment are expected to generate around £190 million of revenue for Carillion.
Carillion is a leader in creating excellent learning environments for students and staff, having delivered over 150 new schools across the UK over recent years.
Commenting, Carillion Chief Executive, Richard Howson, said: "We are delighted to have achieved financial close on this important schools programme, which I believe reflects our experience and expertise in this sector of the PPP market. We look forward to working with the National Treasury Management Agency, the Department of Education and Skills and the individual school authorities to deliver a state-of-the-art facilities that provide excellent learning environments for students and staff."
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 2015 of some £4.6 billion, employs around 46,000 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, remote site accommodation services and consultancy services 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 316426
Finsbury
James Murgatroyd or Gordon Simpson +44 (0) 207 2513801
This information is provided by RNS
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