Interserve wins £270m of health and education projects

Interserve has chalked up an educational PFI scheme and a series of health projects worth over £270m, it announced today.

The health schemes have been awarded under Welsh Health Estates' Designed for Life: Building for Wales framework programme, worth more than £200m, Interserve said.

The largest project, Newport Local General Hospital for Gwent Healthcare NHS Trust,will account for over half of the total.

Other work will include the reconfiguration of mental health services in the Swansea area; a strategic programme for mental health facilities in Llandudno Hospital, Cardiff; an adult mental health unit at Wrexham Maelor Hospital; a new breast-care facility at Prince Phillip Hospital, Llanelli. All of the work will be performed by the company's consortium, Interserve Health Wales.

The educational PFI scheme, for which Interserve has been named preferred bidder as part of a consortium with O'Hare & McGovern, is the £70m Down & Connor and De La Salle schools project for four schools in Counties Down and Antrim, Northern Ireland.

Construction of the schools will begin once the final terms of the contract are arranged. Interserve said it would invest £2.1m of equity and subordinated debt in the project, as well as delivering facilities management services valued at £33m over 25 years.

Adrian Ringrose, chief executive of Interserve said: "Interserve's selection for these projects highlights the value of our multi-faceted approach to contract structuring, where we combine central resources with regional delivery and foster long-term partnerships to bring in specialist expertise."