Access Consortium Achieves Financial Close on £187 Million PFI Scheme in Wigan
Morgan Sindall plc, the construction and regeneration group, today announces that the Access Consortium comprising Morgan Sindall Investments (50%) and Hochtief PPP Solutions (UK) (50%), has achieved financial close on a 28-year, £187 million contract to deliver a public service hub for Wigan Council.
The PFI scheme, called the Wigan Life Centre, involves constructing and managing a leisure, health, learning and information complex that includes a one-stop shop for all public services. Morgan Sindall's construction business, Morgan Ashurst, will design and construct the facilities, with the work valued at approximately £50 million. Morgan Ashurst will be supported by its sister business, Morgan Professional Services, which will provide civil, structural and electrical engineering design.
The construction phase of the PFI scheme is due to commence at the end of this month, with completion due in December 2011.
Paul Smith, Chief Executive of Morgan Sindall plc, said:
"We are pleased to have achieved financial close on this PFI scheme, which has drawn on the Group's strengths in design, construction and project investment."
"We continue to see a healthy pipeline of larger and more complex schemes across a number of the Group's chosen sectors."