11 November 2014
Carillion achieves financial close on Sunderland City Council regeneration programme potentially worth up to £800 million
Following the announcement in November 2013 that Carillion had been selected as the preferred bidder by Sunderland City Council (SCC) to be its strategic partner to deliver the City's regeneration programme, the terms of the Joint Venture between Carillion and SCC have been agreed and the project has achieved financial close.
This innovative contract, which will initially focus on the redevelopment of key sites across the City, is potentially worth up to £800 million to Carillion over the 20 year life of the regeneration programme.
Cllr Paul Watson, Leader of Sunderland City Council said: "It's fantastic news that Siglion can now drive forward the city's largest-ever development programme. The signing of this contract is a major step forward in propelling regeneration and economic growth that will transform key city sites.
"It also ramps up our ability to attract new investment, following on the major works currently being carried out in Sunderland. We are excited about working with our partners who are as committed as we are to the long-term success of the city."
Commenting, Carillion Chief Executive, Richard Howson, said: "We are delighted to have achieved financial close on this major innovative programme. I believe our success reflects Carillion's ability to offer solutions tailored to the specific needs of our customers and our ability to provide a fully integrated solution that will deliver the immediate and long-term services required by the Council.
"We look forward to working with Sunderland City Council and to engaging with local communities and businesses to deliver the Council's vision for the City, which will bring major benefits to the people of Sunderland and act as a catalyst for further inward investment."
The Carillion/Sunderland City Council Joint Venture has appointed Igloo Regeneration to provide development and asset management services to the Joint Venture.
Notes to Editors
Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities. The Group had annual revenue in 2013 of some £4.1 billion, employs around 40,000 people and operates across the UK, in the Middle East and Canada.
The Group has four business segments.
Support services - this includes facilities management, facilities services, energy services, utility services, road maintenance, rail services and consultancy services.
Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure, mainly in the Defence, Health, Education, Transport and Secure accommodation sectors.
Middle East construction services - this includes building and civil engineering activities in the Middle East.
Construction services (excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.
This and other Carillion news releases can be found at www.carillionplc.com
For more information
John Denning, Director Group Corporate Affairs, Carillion plc + 44 (0) 1902 316426
Finsbury
James Murgatroyd or Gordon Simpson +44 (0) 207 2513801
