Carillion Awarded GBP306M Public Private Partnership Project

24th Jun 2010 07:25

LONDON (Dow Jones)--Carillion PLC (CLLN.LN), a U.K. support services company, said Thursday it has been awarded a GBP306 million Public Private Partnership project to build the Forensic Services and Coroner's Complex in Toronto. MAIN FACTS: -Carillion Joint Venture, Carillion Secure Solutions, has been selected to design, build, finance and maintain Toronto's Forensic Services and Coroner's Complex, or FSCC . -FSCC will house Ontario's Centre of Forensic Sciences and its Office of the Chief Coroner in a single facility that will include forensic laboratories, offices, autopsy suites, and two courtrooms for coroner's inquests. -The 30-month construction period will begin on site in August 2010. -The project will be delivered using an Alternative Financing and Procurement model, which is similar to the U.K.'s Public Private Partnership model. -As well as arranging debt finance to meet the costs of construction, Carillion will invest GBP11.8 million of equity in the project. -Carillion will also carry out the construction work and provide facility management and life-cycle repair services over the 30-year concession period that together are expected to generate GBP306 million of revenue for Carillion. -Shares closed Wednesday at 322.5 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires June 24, 2010 02:25 ET (06:25 GMT)