HICL Infrastructure Company Limited  has completed the acquisition of a 33.3% equity and loan note interest in the HMP Addiewell Prison PFI Project from Royal Bank Project Investments Limited for £10.3 million.

The Project is a £74m PFI scheme procured by the Scottish Prison Service to design, build, finance and operate a new maximum security prison at Addiewell, West Lothian, Scotland. The Project reached financial close in June 2006 with construction successfully completed on time at the end of 2008 and the prison officially open for use thereafter. The concession is for a total of 25 years from the end of construction.

Construction was undertaken by Interserve Project Services Limited, a subsidiary of Interserve Plc. Hard and soft operational services, including provision of custodial staff and lifecycle obligations are being undertaken by Sodexo Justice Services Limited, a subsidiary of Sodexo SA, under a full concession life contract.

The Company now owns a portfolio of 83 social and transportation infrastructure investments. The Investment Adviser to the Company is InfraRed Capital Partners Limited

Source: HICL Infrastructure