LONDON (ShareCast) - Construction firm Morgan Sindall (LSE: MGNS.L - news) said Access Consortium, comprising Morgan Sindall Investments
and Hochtief PPP Solutions, has achieved financial close on a 28-year, £187m contract to deliver a public service hub for Wigan Council.
Morgan Sindall and Hochtieff each share a 50% interest in the consortium.
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 £50m.
The construction phase of the PFI scheme will begin at the end of this month, with completion due in December 2011.
"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," said chief executive Paul Smith.
"We continue to see a healthy pipeline of larger and more complex schemes across a number of the Group's chosen sectors," he added.
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