5 Jun 2007

Interserve, in consortium with long-standing building partner O'Hare & McGovern, has been named preferred bidder for the £70 million Down & Connor and De La Salle Schools PPP project.

The project consists of the design, build, operation and maintenance of four schools which, together, will cater for 2,650 pupils: St Joseph's Primary School in Carryduff; St Mary's Primary School, Portglenone; Our Lady and St Patrick's College, Knock; and St Patrick's Grammar School, Downpatrick. The first three of these are for St MacNissi's Educational Trust and the last is for the Trustees of the De La Salle Congregation.

Construction will begin once the final terms of the contract are agreed and will be staggered over two years. As well as investing around £2.1 million of equity and subordinated debt in the project, Interserve will deliver facilities management services valued at an estimated £33 million over a period of 25 years from the opening of the schools. These services will include security, waste management, porterage, site maintenance and energy management.

"This is excellent news and we are looking forward to playing our part in supporting the education of the children who will attend the new schools," said Adrian Ringrose, Interserve's Chief Executive. "It continues our commitment to Northern Ireland's educational sector, where we are now involved in a total of six PFI contracts."