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News » International » Hochtief wins $750m NZ jail » published 13 Jun 2018

Hochtief wins $750m NZ jail

Two Hochtief companies are the leaders of the winning consortium for a major public-private partnership (PPP) to build a jail in New Zealand.

The new facility will be built on the site of the existing Waikeria Prison Above: The new facility will be built on the site of the existing Waikeria Prison

The New Zealand Government has selected the consortium as its preferred proponent to deliver the Waikeria Corrections & Treatment Facility PPP.

Hochtief’s Cimic Group has led the development of the project through its subsidiaries Pacific Partnerships and CPB Contractors. Pacific Partnerships has led the consortium formation and is providing equity financing for 25 years while CPB Contractors will undertake design and construction of the facility.

The total project value is approximately NZ$750m (£395m), with Cimic delivering the majority of the works. Revenue to CIMIC Group will be finalised at contract execution, expected in quarter three 2018, with the new Waikeria facility set to open in 2022.

CPB Contractors will design and construct the new facility. Over a 25-year period Pacific Partnerships, together with the HRL Morrison & Co, will provide financing and management, with asset management and facilities maintenance performed by Cushman & Wakefield. Honeywell will provide the electronic security services for the facility.

The Waikeria Corrections and Treatment Facility will accommodate 500 prisoners and will also have a secure mental health unit providing care for additional prisoners.

The new facility will be built on the site of the existing Waikeria Prison in the Waikato region (upper North Island) of New Zealand.

 

MPU

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This article was published on 13 Jun 2018 (last updated on 13 Jun 2018).

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