A joint venture between UK contractor Carillion and the Dutch Infrastructure Fund has achieved financial close on a public-private partnership (PPP) for five schools in Ireland.
The project client was Ireland’s Department of Education and Skills, with the National Treasury Management Agency acting as its agent.
The joint venture will be responsible for financing, building, operating and maintaining five schools and an institute of further education that together comprise Bundle Five of its schools PPP programme.
The projects are located in counties Meath, Carlow, Wicklow and Wexford. Â
The team will invest $12m of equity in the project, which will be split evenly between the two firms. Â
Carillion will also carry out the construction and deliver support services over the 27-year concession period and these activities, together with its equity investment, are expected to generate around $250m of revenue for the company.
Richard Howson, Carillion’s chief executive, said: "We are delighted to have achieved financial close on this important schools programme, which I believe reflects our experience and expertise in this sector of the PPP market."
Image via Carillion