BAM PPP signs contract for schools project in the UK
Bunnik, Netherlands, 12 January 2006 – BAM PPP achieved financial close for the Bromsgrove Schools PPP project, valued at approximately €95 million (GBP64 million) in December 2005.
BAM PPP has entered into a 30 year concession contract with Worcestershire County Council to replace seven existing schools with five new schools in Bromsgrove (south of Birmingham).
BAM PPP’s sister company HBG Construction has started on site on 9 January 2006 on the two high schools and first school. HBG Construction will start the two through schools in September 2006. HBG Facilities Management is undertaking the services contract which will be phased in from 2007-2008.
This project becomes the seventh schools project in the portfolio of BAM PPP, the majority of which are fully operational.
Further information: Arno C. Pronk, + 31 (0)30 659 86 21.