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Sat June 19 2021

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Dawn sells PFI asset

14 Dec 12 Dawn Construction has sold its 37.5% interest in the West Lothian Schools PFI project to HICL Infrastructure and Kajima Partnerships.

The project involved the construction of two new secondary schools, the Armadale Academy in Armadale and the Dean Community High Schools in Livingston, Scotland.

The construction cost for the two schools was £60m, with both opening in 2009.

The project's co-owner is Hochtief PPP Solutions (UK), which is also responsible for managing the project. Hard FM services are provided by Dawn.

The price was not disclosed but it was one of three assets acquired by HICL for a total of £75m. The other two were the Edinburgh Schools PFI Project and the Perth & Kinross Schools PFI Project, both bought from EiserInfrastructure Partners.

The latter two schemes comprise 10 secondary schools and seven primary schools, with Mitie providinghard and soft facilities management services for all.

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