£187m Wigan PFI Scheme
Morgan Sindall plc
26 June 2009
ACCESS CONSORTIUM ACHIEVES FINANCIAL CLOSE ON £187 million PFI SCHEME IN WIGAN
Morgan Sindall plc, the construction and regeneration group, today announces that the Access Consortium comprising Morgan Sindall Investments (50%) and Hochtief PPP Solutions (UK) (50%), has achieved financial close on a 28-year, £187 million contract to deliver a public service hub for Wigan Council.
The PFI scheme, called the Wigan Life Centre, involves constructing and managing a leisure, health, learning and information complex that includes a one-stop shop for all public services. Morgan Sindall's construction business, Morgan Ashurst, will design and construct the facilities, with the work valued at approximately £50 million. Morgan Ashurst will be supported by its sister business, Morgan Professional Services, which will provide civil, structural and electrical engineering design.
The construction phase of the PFI scheme is due to commence at the end of this month, with completion due in December 2011.
Paul Smith, Chief Executive of Morgan Sindall plc, said:
'We are pleased to have achieved financial close on this PFI scheme, which has drawn on the Group's strengths in design, construction and project investment.
'We continue to see a healthy pipeline of larger and more complex schemes across a number of the Group's chosen sectors.'
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Editor's notes:
Morgan Sindall plc is a top UK construction and regeneration group which operates through five specialist divisions of fit out, construction, infrastructure services, affordable housing and urban regeneration.
Morgan Ashurst, part of Morgan Sindall, is a leading full-service construction business with more than 1,800 employees in the UK. Supported by a national network of local offices, the company works for private and public sector clients on projects from £50,000 to over £300 million. Morgan Ashurst's construction activities range from small works, repair and maintenance services to large-scale complex projects across the commercial, defence, education, healthcare, industrial, leisure, retail and transport sectors.
Morgan Sindall Investments (MSIL) provides project development and funding solutions through a one-stop service, allowing our partners in the public sector to implement sustainable change in order to improve long-term prospects and well-being of local communities. It is part of top UK construction and regeneration group Morgan Sindall plc which operates through five specialist divisions of fit out, construction, infrastructure services, affordable housing and urban regeneration.
MPS, part of Morgan Sindall, is a leading design, engineering and project management business which provides design, engineering and project management services to the manufacturing, environmental, nuclear, transport and public sectors. With offices in the UK, Europe and the Far East, the company's professional services include design and engineering, project management, construction management, specialist consultancy, cost planning and project planning.
ENQUIRIES:
Morgan Sindall plc Tel: 020 7307 9200
Paul Smith, Chief Executive
David Mulligan, Finance Director
Blythe Weigh Communications Tel: 020 7138 3204
Tim Blythe Mobile: 07816 924626
Paul Weigh Mobile: 07989 129658
This information is provided by RNS
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