Fundraising

Bilfinger Berger wins German schools contract

Developer Bilfinger Berger has won an order to modernise and expand two schools in the German city of Halle. It also won a tender for the demolition and construction of a sports facility in Erfurt, located in the eastern part of the country.

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Bilfinger Berger to
modernise schools in
Germany
German developer Bilfinger Berger has been commissioned by the German city of Halle to modernise and expand two schools and an after-school care centre, the company said in a press release.

In related news, Erfurt, another city located in the eastern part of Germany has also awarded a public-private partnership (PPP) contract to the developer for the demolition and construction of a sports facility with a capacity for 1,500 spectators.

Once the work on the schools and the sports facility is completed, the group will operate both projects over a period of 20 and 25 years respectively.

According to a press release, the two contracts will require a total investment of €20m. However, the company could not be reached for further funding details.

Bilfinger Berger has previously delivered municipal, educational and sports facilities on a PPP basis in Germany with a total investment volume of €75 million.

The company’s overall privately financed portfolio comprises 29 projects with a total investment volume of €7.6 billion and an associated equity commitment of €407 million. In addition to Germany, core markets include other European countries, Australia and Canada.