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News » International » Carillion closes £190m Irish schools deal » published 27 Jul 2016

Carillion closes £190m Irish schools deal

A Carillion joint venture has achieved financial close on a public-private partnership contract for six schools in Ireland.

The Irish Schools Bundle 5 PPP project has an estimated value to Carillion of approximately £190m. The joint venture, Inspiredspaces Bundle 5 (Ireland), is a 50:50 partnership between Carillion and Dutch Infrastructure Fund. Client for the project is the Department of Education & Skills, with the National Treasury Management Agency acting as agent on its behalf.

The joint venture will be responsible for financing, building, operating and maintaining five schools and an institute of further education in counties Meath, Carlow, Wicklow and Wexford. The joint venture will invest £9m of equity in the project, of which Carillion’s share will be £4.5 million.  Carillion will also carry out the construction and deliver support services over the 27-year concession period and these activities together with the equity investment are expected to generate about £190m of revenue for Carillion.

 

 

MPU

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This article was published on 27 Jul 2016 (last updated on 28 Jul 2016).

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