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- Release Date: 11/09/12 16:19
- Summary: GENERAL: FBU: Contractual negotiations for prison at Wiri completed
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FBU
11/09/2012 14:19
GENERAL
REL: 1419 HRS Fletcher Building Limited
GENERAL: FBU: Contractual negotiations for prison at Wiri completed
Fletcher Building Ltd announced today that it had successfully completed
contractual negotiations for the construction of a new prison at Wiri, South
Auckland.
The Fletcher Construction Company Ltd, a subsidiary of Fletcher Building Ltd,
is part of the SecureFuture consortium which has achieved financial close for
New Zealand's first Public Private Partnership project. The consortium has
now entered into a contract with the Department of Corrections to design,
build, own, maintain and operate the Wiri facility for 25 years.
Fletcher Construction is responsible for the design and construction
component of the prison facility. Design and pre-construction planning has
progressed throughout the preferred bidder stage; construction work will
commence on site immediately, with a construction duration of approximately
two and a half years.
The value of the design and construction contract is approximately $300
million, with completion due mid-2015.
SecureFuture is made up of Fletcher Construction, who will design and
construct the prison; Serco, who will operate it; Spotless Facility Services,
responsible for maintenance; along with equity participants John Laing,
InfraRed and The Accident Compensation Corporation. The consortium is advised
by Macquarie Capital.
For further information contact:
Investor enquiries:
Philip King, General Manager Investor Relations
Phone: +64 9 525 9043
Mobile: +64 27 444 0203
Media enquiries:
Graham Darlow, Chief Executive, Construction Group
Phone:+6495254923
Mobile:+6421491810
End
End CA:00227161 For:FBU Type:GENERAL Time:2012-09-11 14:19:22
