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HOCHTIEF Reaches Financial Close for PPP Schools Project in Canada - The twelve schools, mainly in southern Alberta, will be built over a 22-month period, and will begin to operate in summer 2014, at which time these educational facilities will be used by around 6,300 pupils
HOCHTIEF Reaches Financial Close for PPP Schools Project in Canada

 

NewswireToday - /newswire/ - Essen, Germany, 2012/09/26 - The twelve schools, mainly in southern Alberta, will be built over a 22-month period, and will begin to operate in summer 2014, at which time these educational facilities will be used by around 6,300 pupils. ASX: CIM

   
 
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• HOCHTIEF consortium to plan, finance, build and maintain twelve further schools in Alberta Province;
• Contract worth approx. EUR 275.6 m (CAD 348.7 m); 30-year term; HOCHTIEF has 50% share;
• Group companies Turner Construction and Clark Builders to provide all construction services.

The "ABC Schools Partnership", in which HOCHTIEF Solutions - through its subsidiaries - and Concert Infrastructure, an infrastructure fund, each have a 50 percent shareholding, has reached financial close for a new schools project in the Province of Alberta. The two partners will plan, finance, build and maintain twelve schools for 30 years on the basis of a public-private partnership (PPP). The project is worth EUR 275.6 million (CAD 348.7 million), with an investment volume of around EUR 77.4 million (CAD 97.9 million).

The twelve schools, mainly in southern Alberta, will be built over a 22-month period, and will begin to operate in summer 2014, at which time these educational facilities will be used by around 6,300 pupils.

The 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. The resulting synergies are an advantage in bidding. "HOCHTIEF meanwhile benefits sustainably by the close cooperation of its North American subsidiaries, Turner, Flatiron and Clark Builders. We are now able to offer most of the tendered services for PPP projects from a single source," emphasized 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," adds Peter J. Davoren, President and CEO of Turner Construction Company.

Following the first contract for ten schools in Alberta Province in 2010, and Northeast Anthony Henday Drive - part of the beltway around Edmonton - as of May this year, the new project is HOCHTIEF’s third collaboration with the government of Alberta Province. It was only a few weeks ago that HOCHTIEF PPP Solutions North America reached financial close for a further major PPP project in the USA with the Presidio Parkway, the southern access road to the Golden Gate Bridge. With this new project HOCHTIEF Solutions will be responsible for a total of 123 PPP schools with over 90,000 pupils.

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Reaches Financial Close for PPP Schools Project in Canada

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Publisher Contact: Bernd Reuther - HOCHTIEF.de 
+49 201 824-1449 bernd.reuther[.]hochtief.de
 
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