INTERSERVE CONSORTIUM PREFERRED BIDDER FOR £150m ST HELENS SCHOOLS PROGRAMME
The Interserve-led consortium Environments for Learning (E4L) has been named
preferred bidder to undertake a major schools development programme for
St Helens Council worth provisionally £150 million.
The programme will operate under the Building Schools for the Future (BSF)
initiative. Interserve will construct two schools, with a capital cost of £47
million, in the first phase: Rainford High Technology College and De La Salle
School. Rainford will be financed using the private finance initiative (PFI)
and Interserve will provide facilities management services worth £8 million to
the school over a 25-year period once complete.
Six further schools, worth an aggregate of over £100 million in construction
costs, have been identified for subsequent development. Two of these will be
procured through PFI.
E4L and St Helens Council will, together with BSF Investments, become partners
in St Helens's Local Education Partnership (LEP). We anticipate reaching
financial close on the contract in the autumn this year; construction will
begin immediately afterwards, leading to the first schools being ready to
accept pupils for the start of the academic year in September 2012.
Interserve's Chief Executive, Adrian Ringrose, commented, "St Helens Council
has clearly shown its commitment to providing children in the area with the
latest educational facilities, and we will play our part in ensuring that the
schools we build will deliver the benefits the community needs. Interserve is
one of the country's most experienced and successful companies in creating
schools through BSF. This is our third such development programme, alongside
Sandwell in the West Midlands and our award-winning partnership at Leeds."
For further information please contact:
Giles Scott 0118 960 2307
Head of Corporate Communications
Elizabeth Morley / Tom Roberts 020 7379 5151
Maitland
About Interserve
Interserve's vision is to be the Trusted Partner of all our stakeholders. We
are a services, maintenance and building group operating in the public and
private sectors in the UK and internationally. We offer advice, design,
construction and facilities management services for society's infrastructure
and provide a range of plant and equipment in specialist fields. Interserve is
based in the UK and is a FTSE 250 company. It has revenue of £1.8 billion and a
workforce of 50,000 people worldwide.
Education website: www. education.interserve.com
General website: www.interserve.com
About Environments for Learning Limited (E4L)
E4L, a consortium dedicated to delivering education services and projects,
comprises Interserve and Barclays Private Equity.