Commercial Property News

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Wednesday, November 22, 2023

Hochtief wins 220m PPP deal to build two schools in Salford

Hochtief AG has secured a public-private partnership contract worth around 220m to build and operate two schools in the city of Salford, England.

Construction is due to commence this month and is scheduled to be completed by Sept 2008, the German construction group said.

Hochtief said the project will be managed by Salford School Solutions Ltd, a newly established joint venture it owns 50-50 with NIBC Project Investments.

Once the school buildings have been completed, Salford School Solutions will be responsible for managing the facilities for a 25-year period.