Financing secured for PPP school project in Bristol – Skanska invests GBP 4.8 million, approximately SEK 65 million, and receives construction contract worth GBP 120 million, corresponding to SEK 1.6 billion
Skanska has reached financial close for the financing, design, construction and operation of four schools under the UK Government’s program for Public Private Partnerships (PPP), Private Finance Initiative (PFI), in Bristol. For Skanska, this means:
- receiving a construction contract worth around GBP 120 million, about SEK 1.6 billion, which is to be included in order bookings for the second quarter of 2006.
- receiving a facilities management contract valued at around GBP 2.8 million, about SEK 38 million, per year during the 25-year concession period, commencing in September 2007. GBP 5.6 M, SEK 76 M, will be included in order bookings for the second quarter.
- investing GBP 4.8 million, approximately SEK 65 million, corresponding to 44 percent of the overall investment in the project company. The other investors are Partnership for Schools and Investors in the Community.