Interserve has built an impressive reputation in the delivery of PFI projects and now manages one of the largest portfolios in the UK. We achieved financial close on our first project in 1997 and have since signed a further 39 contracts.
We have invested over £100 million in equity and sub-debt to help deliver these projects, which represent a whole life value to Interserve in excess of £3 billion. Interserve is a long term investor in PFI projects, having transferred our equity interests in 32 of these contracts to our pension fund and retaining an active management role in 37 projects.
Whether it is the renewal or replacement of the UK’s infrastructure associated with education, healthcare, justice or defence, Interserve has and continues to provide innovative, whole-life solutions to a range of complex needs. Our ability to combine the skills of the Group to design, build, finance and operate projects is second to none.
In the education sector, we operate a range of PFI schools and colleges across Northern Ireland. We have also replaced and renewed large-scale schools in such diverse locations as Cornwall, Telford and Manchester.
Our response to the challenges faced by the UK’s custodial accommodation has been to deliver PFI solutions to new prisons in Peterborough, Ashford (Middlesex) and Addiewell in Scotland. Together, these prisons have provided in excess of 2,000 additional custodial places.
At HMS Drake in Plymouth, Interserve has provided the total solution to the Navy’s accommodation needs for the Fleet. In addition, the Communications Centre at Corsham has given the Ministry of Defence fully-serviced accommodation that is truly world class.
Our commitment is shown by our successful participation in the UK government’s PFI programme in which we have invested in excess of £100 million of equity into PFI projects and have raised in excess of £3 billion of further finance.