|
contents | business | |||||||||
| BAM PPP reaches financial close on £105m PPP schools project BAM PPP, the specialist PPP investment arm of a Dutch-based construction firm Royal BAM Group, has reached financial close on West Dunbartonshire Council's £105m PPP schools project. BAM PPP is sponsoring the deal with its sister company HBG UK providing an integrated solution with HBG Construction as building contractor, HBG Design as a key member of the design team and HBG Facilities Management providing operational and maintenance services throughout the 30 year operational concession. The contract will provide new-build replacement facilities for four schools. Sustainability is at the heart of the design and operation of the schools with geothermal heating at all sites and designed to achieve the highest Building Research Establishment sustainability rating of 'BREEAM' Excellent'. Work will commence this month with the new high schools opening in the summer of 2009 and the primary school in the autumn of 2010. BAM PPP is providing 100% of the £8m equity investment required while Dexia is providing £97m of senior debt. write your comments about the article :: © 2008 Construction News :: home page |