International Public Partnerships (INPP) has increased its investment in the Salford and Wigan Building Schools for the Future (BSF) programme.
In conjunction with its consortium partners Laing O'Rourke Construction and Hochtief Facilities Management, INPP has invested £705,000 for 10% interest in the second phase of the scheme.
The second phase consists of the construction of three secondary schools, a primary school and community facilities for over 3,700 students in the region.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In August, INPP acquired 100% of the interests in Building Schools for the Future Investments LLP (BSFI) from the Department for Education and Partnerships UK for around £60m.
Giles Frost, director of Amber Infrastructure, said: "School projects continue to form a core part of INPP's portfolio going forward and the group is delighted that, consistent with its expectations for additional development opportunities arising from BSFI, INPP has already finalised a further investment in the second phase of the Salford and Wigan project."
The share price fell 0.68% to 117.6p by 09:37.
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
