Pacific Partnerships and CPB Contractors have been selected to deliver the third New Zealand Schools PPP initiative. Cimic Group’s role in the project spans design, construction and financing.
The contract is anticipated by the New Zealand Ministry of Education to be worth more than NZ$200m. Revenue to the Cimic Group companies will be finalised at contract execution, which is expected in the coming months.
CPB Contractors managing director Román Garrido said: “Delivering new and upgraded social infrastructure is one of our core capabilities, and we continue to work with the New Zealand Ministry of Education towards innovative design and cost-effective construction solutions to the benefit of this project. Our team will be engaging with local workers and businesses towards increased job and work opportunities as the project progresses.”
Pacific Partnerships, together with the HRL Morrison & Co managed PIP Fund 2, will provide financing for 25 years. Operational services will be performed by Spotless.
CPB Contractors will deliver the design and construction in joint venture with Christchurch-based company Southbase Construction.
This third New Zealand Schools PPP initiative includes the design and construction of four new primary schools (three in Auckland and one in Hamilton) and the relocation and co-location of Shirley Boys’ High School and Avonside Girls’ High School in Christchurch, as well as operational services of the schools for 25 years.
The agreement is also expected to contain an expansion mechanism under which the Ministry of Education has the right to add additional schools to the project to the aggregate capital value of NZ$200 million.
The project’s construction phase is scheduled to start in the coming months, with the schools set to open in 2019.