Deals

Strabag wins three German schools PPP

The Austrian construction company has won a 25-year, €160m PPP contract to build three schools in the city of Mülheim, in northern Germany. WGZ-Bank, SEB and NRW-Bank are providing debt for the deal.

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Austrian construction firm Strabag has been awarded a public-private partnership (PPP) contract for the building and maintenance of three schools in Germany.

Haselsteiner: PPPs to
become increasingly
important
The city of Mülheim, in north Germany, awarded the 25-year contract for the redevelopment, partial new development and operation of the three schools.

“We have already established ourselves as a partner to the public sector with projects that include schools in Ratzeburg or a government administration centre in Heidelberg. Our PPP portfolio is growing constantly, with several new projects added every year. PPP will become increasingly important as a procurement alternative for the public sector in the coming years,” predicts Strabag chief executive Hans Peter Haselsteiner.

The build, finance, operate project amounts to a total value of €160 million, of which €52 million is for the construction and modernisation of the buildings. WGZ-Bank, SEB and NRW-Bank are providing debt for the deal.