INTERSERVE PLC - Re Contract Interserve Wins �105m Telford Schools PFI Interserve, the infrastructure and facilities management group, has reached financial close on the PFI contract with the Borough of Telford & Wrekin to design, build and provide facilities services to a major educational complex. The services to be delivered by Interserve will be worth approximately � 105million. The Hadley Learning Community Project will encompass, in a single extensive building, a primary school for 420 pupils, a secondary school for 1,200, a school for 150 children with severe and profound learning difficulties, a 50-place early education and childcare facility, a sports and leisure centre and an arts centre including a 150-seat theatre. The new facilities will also be available for community use. Four existing schools will be brought together in the project and Interserve will begin providing interim services in these from April 2006. Construction of the Hadley Learning Community Project will begin immediately with the secondary school due to open in September 2006 and the rest of the facilities in January 2007. Interserve will deliver full services in the new facilities for a period of 28 years. These will include: - caretaking and porterage - estates management - catering, cleaning and security - helpdesk - grounds maintenance - childcare Interserve Investments Plc will manage the group's �3.8 million investment, which represents 50 per cent of the equity and loan stock; HBOS will own the other 50 per cent. This is the 10th time the two organisations have worked as PFI partners. "We see this as a particularly innovative development," remarked Adrian Ringrose, Chief Executive of Interserve Plc, "and we're looking forward to providing something really special for the people of Telford which will be a valuable community resource for many years to come." Borough of Telford & Wrekin's cabinet member for education councillor Peggie Harrison said, "We are really excited about this flagship project which will be a national exemplar for delivering 21st century education, training and a whole range of services to the whole community." END DATASOURCE: INTERSERVE PLC

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