Bundle 4 of the schools programme project comprises four new post-primary schools in the counties of Tipperary, Cork, Clare and Louth. The schools will all be constructed on greenfield sites and will have an overall pupil capacity of 2,950.
BAM has worked with the Department of Education and Skills (DoES) and the National Development Finance Agency (NDFA) to reach financial close. The project is the first accommodation-based scheme in the government’s stimulus programme to close. The package had been awarded to BAM in July last year (link opens in new tab).
Work has begun this week, with overall completion scheduled for May 2016. This will be followed by a 25-year concession period where BAM will be delivering both hard and soft facility management services. Investment funds will be provided by BAM PPP PGGM Coöperatie.
The total investment will be €70m. Project financing will be provided jointly by two banks, AIB and KfW. The banks were selected following a preferred tenderer funding competition conducted by BAM and overseen by the NDFA.
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