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Inteq reaches financial close on £690m Corsham Defence PFIMonday, August 04, 2008 Inteq reaches financial close on £690m Corsham Defence PFI Inteq, the consortium chosen by the MoD to provide a new office and accommodation complex at Corsham in Wiltshire today announces it has reached financial close on the £690 million PFI project. The 50:50 joint-venture between John Laing plc, the leading project developer and investor in public private partnerships in the UK and around the world, and Interserve, the services, maintenance and building group, will provide the office and accommodation complex for 2,200 military and civilian staff in North Wiltshire.The MoD, through Defence Equipment and Support’s Information Systems & Services organization (DE&S ISS) aims to relocate all DE&S ISS MoD personnel and business partners to this single communications centre. The Inteq consortium will be responsible for working with Defence Estates to create and manage a working and living environment capable of supporting an estimated 2,200 users of the site including new flagship offices and single living accommodation. John Laing and Interserve each have a 50 per cent equity/sub-debt stake in the project, Laing O’Rourke are providing the design and build for the accommodation and Interserve will provide a range of facilities management services over the 25 year concession period. Richard Groome, spokesperson for Inteq said: “We are delighted to be partnering with the MoD on this exciting project, which when completed will be a critical component in the delivery of communications to our frontline forces. We have designed new accommodation facilities that will create a positive, 21st Century environment in which service personnel and civilians can live and work. Inteq recognises that this is a very important initiative for the MOD and this is a further demonstration of what can be achieved when combining the skills of the public and private sectors.” For further information please contact: |
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