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News Release from: Balfour Beatty | Subject: First PPP concession outside UK
Edited by the Buildingtalk Editorial
Team on 27 November 2007
First PPP concession for Balfour Beatty
outside UK
Balfour Beatty announces that Gammon Capital, its PPP vehicle in South East Asia, has been appointed preferred bidder for the new Institute of Technical Education College West in Singapore.
The project, which has a contract period of 27 years and a capital value of approximately GBP90 million, is scheduled to be completed in time for its first intake of students in July 2010 Financial Close is anticipated in early 2008
This article was originally published on Buildingtalk on 19 Jun 2007 at 8.00am (UK)
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Construction will be undertaken by Gammon Construction, in which, like Gammon Capital, Balfour Beatty has a 50% interest.
Gammon will also be responsible for long-term facilities management services to include mechanical and electrical maintenance, AV support, cleaning, landscape management, security, parking, environment and waste management and catering.
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Commenting on the appointment today, Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have been selected by ITE to play such a key role in the next stage of their development as a global leader in technical education".
"This is our first PPP project outside the UK and is an important step in our strategy of creating sustainable PPP businesses in selected geographic markets".
The new college is the second stage in ITE's plan to consolidate the existing 10 ITE Campuses into three Mega Campuses and follows the opening of ITE College East in January 2005.
Under the "One ITE System, Three Colleges" education model, the new ITE College West is envisioned to be "An ITE College of Excellence for Service Quality" operating three key schools for Business and Services, Info-Communications Technology and Engineering.
ITE College West will be a comprehensive college with niche courses in hospitality, retail and automotive engineering.
It seeks to provide an inspiring learning and interactive environment that promotes the holistic development of students with relevant skills, knowledge and values for the global economy.
The College will also have special emphasis on the development of service excellence skills, knowledge and mindset.
The project involves the design, construction and operation of a distinctive campus with a student capacity of 7,200 full time, 8,100 part time and approximately 630 staff.
It will comprise training rooms, workshops, laboratories and lecture theatres.
The complex will also include a training restaurant and kitchen, a student interaction and learning centre, integrated sports facilities and centres of technology.
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