Victorian New Schools PPP Preferred Bidder
2 September 2015
Learning Communities Victoria Consortium announced as Preferred Bidder for Victorian New Schools PPP Project
International Public Partnerships Limited ('the Company', 'INPP'), the listed infrastructure investment company, is pleased that the Learning Communities Victoria Consortium has been appointed by the Victorian Department of Education and Training as the preferred bidder to enter into exclusive negotiations to design, build, finance and maintain the New Schools Public Private Partnership Project ("the Project"). The Company will provide 100% of the Project risk capital.
The Project comprises the delivery of 15 schools across 12 sites.
The Learning Communities Victoria Consortium is sponsored by Amber Infrastructure and other consortium members include:
· Watpac Construction: Design-Builder;
· Spotless: Facilities Manager. Spotless also provides facilities management services to some of the Company's existing Australian investments; and
· YMCA: Community Services and Activities.
This New Schools PPP Project builds on the Company's educational projects across Australia, the UK and Canada and will broaden its Australian investment portfolio.
Having been announced as the Preferred Bidder, Learning Communities Victoria will now work closely with the State Project team to conclude the contracting and financing.
Construction is expected to commence in Q4 2015 with the delivery of the first tranche of schools to be in time for the commencement of the 2017 school year and the subsequent, second tranche of schools to be delivered in time for commencement of the 2018 school year.
Further details on the transaction will be provided on financial close, which is expected in Q4 2015.
Commenting on the appointment, Chairman of International Public Partnerships, Rupert Dorey said: "We are delighted to have been named Preferred Bidder on the Victorian New Schools PPP Project. This demonstrates the Company's ability to continue to bring high quality international projects to the portfolio."
Further project details can be viewed on the State's Project website: http://www.education.vic.gov.au/about/programs/infrastructure/Pages/newschoolsproject.aspx.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
Notes to Editors:
About International Public Partnerships:
International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.
Listed in 2006, INPP is a long-term investor in 118 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and renewable energy projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of typically 20-40 year concessions.
Visit the INPP website at www.internationalpublicpartnerships.com for more information.
About Amber Infrastructure Group:
Amber Infrastructure Group (Amber) is a leading international infrastructure specialist, providing asset management and investment advisory services in respect of over £5 billion of assets in the UK, Europe, Australia and North America. Amber's core business focuses on sourcing, developing, advising on, investing in and managing infrastructure assets within the utilities, PPP, transport, renewable energy and regeneration sectors.
Amber provides investment advisory services to International Public Partnerships
Limited as well as private investment funds, specialising in urban regeneration. Amber is headquartered in London with offices in Munich, Sydney, Melbourne and San Francisco and employs over 80 people, making it one of the largest
international infrastructure specialists.
This information is provided by RNS
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