Serco named preferred bidder for New Grafton Correctional Centre
16 March 2017
Serco Group plc (Serco), the international service company, has been named Preferred Bidder to operate the New Grafton Correctional Centre (NGCC) in New South Wales, Australia.
Serco is part of the NorthernPathways consortium which will design, build and operate NGCC in a Public Private Partnership for the NSW Government. When completed, NGCC will be the largest correctional facility in Australia.
Serco's contract for operation is expected to commence in 2020. The estimated total contract value to Serco over a 20-year term is approximately AUD2.6bn (equivalent to approximately £1.6bn, based upon the current exchange rate of 1 GBP = 1.60 AUD).
The consortium will now enter into final contract negotiations and a further announcement will be made at the appropriate time.
This announcement contains inside information.
Ends
For further information please contact Serco:
Stuart Ford, Head of Investor Relations T +44 (0) 1256 386 227
Marcus De Ville, Head of Media Relations T +44 (0) 1256 386 226
About Serco
Serco is a leading provider of public services. Our customers are governments or others operating in the public sector. We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.
More information can be found at www.serco.com
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