HOCHTIEF secures PPP schools project

29 June 2011

Contract volume of about EUR 181 million over 27 years – Second project in the investment program "Building Schools for the Future"

A consortium led by the HOCHTIEF Concessions subsidiary HOCHTIEF PPP Solutions (UK) has agreed with Halton Borough Council (near Liverpool) to design/build, finance and operate two secondary schools in the Borough as part of its BSF programme. The project will also include setting up a Local Educational Partnership that provides the opportunity to enhance the local educational environment. The project term is 27 years. The contract has a volume of EUR 181 million with an investment volume of about EUR 63,4 million.

HOCHTIEF PPP Solutions (UK) has a 50 percent stake in the Halton Transformational Partnership consortium.

The construction works are due to commence in June 2011 and take around 22 months to complete. HOCHTIEF Facility Management (UK) will then assume responsibility for running the schools.

Bernward Kulle, Member of the Executive Board of HOCHTIEF Concessions and Chairman of HOCHTIEF PPP Solutions (UK), stated: "This is our second secured project within the UK Governments Building Schools for the Future programme. It adds another attractive asset in to our portfolio and represents a further expansion of our business in the United Kingdom.” HOCHTIEF Concessions is now responsible for a total of 26 schools within the UK and Ireland, and provides facilities for approximately 28,000 students. Worldwide, the company’s portfolio includes more than 90 schools for almost 70.000 students.