BAM confirmed as preferred tenderer for Schools PPP Programme Bundle 4
22nd July 2014
BAM has been selected by the Department of Education and Skills (DoES) and the National Development Finance Agency (NDFA) to deliver four new post primary schools in Counties Tipperary, Cork, Clare and Louth in Ireland subject to the satisfactory outcome of the planning process. The Schools PPP Programme Bundle 4 is the first accommodation-based project in the Irish Government’s Stimulus Programme to reach Preferred Tenderer stage.
BAM will be responsible for the detailed design, build, finance, maintenance and operation of the four new replacement post primary schools. The schools will all be constructed on greenfield sites and will have an overall pupil capacity of 2,950.
The PPP project is being procured by means of the negotiated procedure. Project financing is subject to a preferred tenderer funding competition.
A financial close in Q4 2014 is being targeted with overall construction completion in early 2016, followed by a 25 year concession delivering both hard and soft facility management services.
BAM’s advisers included Quayle Munro (financial) and Arthur Cox (legal).
About BAM PPP PGGM Infrastructure Coöperatie
The objective of the joint-venture is to provide a long-term partnership to invest in the developing social and transport PPP markets in the Netherlands, Belgium, the United Kingdom, Ireland, Germany and Switzerland.
About BAM PPP
BAM PPP is an operating company of Royal BAM Group, a worldwide construction services company generating revenues of approximately €7.4 billion and listed on Euronext Amsterdam. BAM PPP is responsible for Royal BAM Group’s involvement in the PPP market. Operating from offices in Bunnik, Birmingham, Brussels, Dublin, Frankfurt am Main and Glasgow, BAM PPP invests in and manages over 31 PPP projects and is active in the road, rail, education, healthcare, judicial and general accommodation sectors and is well positioned to access most Western European markets.
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On June 1, 2014 PGGM has EUR 167 billion in assets under management. The PGGM cooperative has approximately 670,000 members and is helping them to realize a valuable future. Either alone or together with strategic partners, PGGM develops innovative future provisions by linking together pension, care, housing and work.