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Wed May 22 2024

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Hochtief closes €276m deal for Canadian schools

27 Sep 12 Hochtief has reached financial close on a €275.6m (£219m) project to plan, finance, build and maintain 12 schools in the Canadian province of Alberta.

Hochtief has 50% share in the scheme and infrastructure fund Concert Infrastructure has the other half. Hochtief group companies Turner Construction and Clark Builders will provide all construction services.

The ABC Schools Partnership will plan, finance, build and maintain the 12 schools for 30 years on the basis of a public-private partnership (PPP). The 12 schools, mainly in southern Alberta, will be built over a 22-month period, and will begin to operate in summer 2014, at which time the facilities will be used by around 6,300 pupils.

Construction services associated with the project will be provided by a separate project company of the Hochtief subsidiaries Turner Construction and Clark Builders. Both companies have recently entered into a partnership.  “We are now able to offer most of the tendered services for PPP projects from a single source," said Bernd Romanski, member of the Hochtief Solutions AG executive board.

"The excellent cooperation between the individual teams is a guarantee of success in bidding for PPP projects in North America," said Peter J Davoren, president and CEO of Turner Construction Company.

The new project is Hochtief’s third collaboration with the government of Alberta Province. It follows a contract for 10 schools in 2010, and Northeast Anthony Henday Drive - part of the beltway around Edmonton. 

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