Interserve closes Hattersley Schools PFI

20 June 2002

Interserve is pleased to announce that it has reached financial close on the £41m Hattersley Schools PFI project for client Tameside Metropolitan Borough Council.  Interserve is an equity stakeholder in the scheme with the Bank of Scotland.

The project comprises replacement of existing facilities with three brand new schools: two primary schools with a total of 690 places, both due to complete later this year; and one secondary school, a 750-place community high school which will complete in spring 2003.

Interserve will be carrying out both the design and construction of the schools and the provision of facilities services over the 30-year concession period.

Interserve Chairman Mike Bottjer commented: "We are delighted to have been awarded this significant schools project and look forward to working with Tameside Metropolitan Borough Council.  This award is another important addition to our growing portfolio of PFI contracts."