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.