$298m schools PPP will relieve teachers - Parata
Teachers will be relieved by a public private partnership to build and maintain schools, education minister says
A $298 million private public school partnership will “relieve teachers of maintenance concerns,” according to Education Minister Hekia Parata.
Last week she signed the $298 million contract with the Future Schools Partners consortium to finance, design, construct, and maintain Ormiston Junior College in Auckland, Aranui Community Campus and Rolleston Secondary School in Canterbury and Wakatipu High School in Queenstown.
The move builds on National’s wider property programme, which includes privatising state housing.
National says the private-public model would save taxpayers approximately $27 million compared with traditional procurement over the next 25 years.
The project is the second of its type for the FSP consortium, which delivered the new primary and secondary schools at Hobsonville Point in Auckland.
The consortium will also be responsible for school maintenance for 25 years, before the buildings are handed back to the ministry.
The Ormiston, Rolleston and Aranui schools will open early in 2017, while Wakatipu High School will open in 2018.
Morrison & Co’s Public Infrastructure Partners fund will provide equity to the consortium, made up of Hawkins Group for design and construction, ASC Architects and Programmed Facility Management.
The Public Infrastructure Partners fund was established by New Zealand infrastructure investment manager Morrison & Co to invest in social infrastructure assets through private public partnerships.
Money in the fund came from various investors including the NZ Superannuation Fund and local community trusts and institutional investors.
In addition, the NZ Social Infrastructure Fund was established in 2010 to enable smaller New Zealand investors to participate in the PIP Fund.
Chris Hutching
Wed, 06 May 2015
Wed, 06 May 2015
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$298m schools PPP will relieve teachers - Parata
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