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CIMIC Group Advises on Being Preferred for NZ Prison PPP

13 Jun 2018  |  15:29:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: CIMIC GROUP COMPANIES PREFERRED FOR NZ PRISON PPP

CIMIC Group advised that Pacific Partnerships and CPB Contractors are selected by the NZ Government as the preferred proponent to deliver the Waikeria Corrections and Treatment Facility Public Private Partnership (PPP) project. The total project value is NZ$750m, with the Company delivering the majority of the works. The Company updated that commercial arrangements are at an advanced stage, and revenue will be finalized at contract execution, expected in quarter three 2018, with the new Waikeria facility set to open in 2022. The Company further updated that it has led the development of the project, with Pacific Partnerships heading the consortium formation and providing equity financing for 25 years.

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