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| Hochtief secures further PPP schools in UK/Ireland Hochtief PPP Solutions GmbH - via its subsidiaries Hochtief PPP Solutions (UK) Ltd and Hochtief PPP Solutions (Ireland) Ltd - has gained two more public-private partnership (PPP) projects in the educational sector in the UK and Ireland. In the cities of Bangor and Comber in Northern Ireland, the company is to build and operate two new schools on the basis of a PPP contract. In the Republic of Ireland, Hochtief has acquired a stake in an existing PPP project involving five schools in four different counties. Together, the contracts have a volume of around EUR 470 million. For the schools in Bangor and Comber, Hochtief PPP Solutions (UK) has teamed up with Barclays European Investment Fund and McLaughlin & Harvey Ltd to form the project company Bangor & Nendrum School Services Ltd. Hochtief and Barclays each hold a 40 percent share in this company, with McLaughlin & Harvey holding the remaining 20 percent. The project company will invest around EUR 59 million in capital to construct the schools. Hochtief PPP Solutions (Ireland) has acquired a 50 percent stake from Barclays Private Equity in an already existing public-private partnership (PPP) project in Ireland. As from now, the company will be jointly responsible with Barclays Private Equity - which retains the other 50 percent stake - for the operation of five schools. The contract has a duration of just under 22 years. Hochtief PPP Solutions is now responsible for a total of 80 schools in the UK, Ireland and Germany. write your comments about the article :: © 2006 Construction News :: home page |