Financial close for PFI school project in Essex
Skanska's construction assignment amounts to GBP 71 M, about SEK 780 M, and investment to GBP 5.1 M, about SEK 56 M.
Skanska has signed an agreement for the financing, design, construction and operation of three schools as part of a Private Finance Initiative, PFI, in Essex, UK. This means that Skanska:
- receives a construction contract worth GBP 71 M, about SEK 780 M, which is included in second-quarter order bookings,
- receives a facilities management contract with a value of approximately GBP 1.34 M, about SEK 15 M, per year over a period of 25 years commencing on completion in January 2012,
- invests about GBP 5.1 M, approximately SEK 56 M, corresponding to an 80 percent share in the project company.