Press Releases 2004

December 14, 2004
Public-private-partnership solutions for schools in the United Kingdom: Bilfinger Berger realizes a further project worth €40 million

A consortium led by Bilfinger Berger is to be responsible for a new school center in Coventry, England, on the basis of a public-private-partnership solution. Following the financial close, which has now been achieved, the company will design, finance and construct the school complex with extensive sport and leisure facilities, and then operate it over a period of 30 years. The project has a total volume of €40 million, and Bilfinger Berger has an 80% stake in the concession company.

Bilfinger Berger has many years of experience of PFI projects (private finance initiatives of the British government) in the United Kingdom. At present, about 10,000 British pupils attend schools realized by Bilfinger Berger on such a basis. For example, the company operates five schools in the counties of Wiltshire and Bedfordshire. Bilfinger Berger was recently selected as preferred bidder for a project with six school buildings in Kent. The company also realizes hospitals along these lines in the UK. In addition to an existing clinic in Hull, a new hospital in Gloucester is now going into operation. A further project comprises medical facilities in Liverpool and London. And Bilfinger Berger has realized the first PPP project in Germany: the British Embassy in Berlin. The building was opened in 2000 and is generating the anticipated return on capital employed.

Bilfinger Berger's private-sector investment portfolio is developing dynamically - the number of projects has doubled to 16 within a year. Build-operate-transfer activities (BOT) represent a source of long-term secure income and stable cash flows for the Group. Bilfinger Berger will continue to extend its portfolio with projects which fulfill the Group's strict return criteria.