P3 deal signed for Bermuda airport terminal
Bermuda's Finance Minister Bob Richards announced on Monday that the government has signed a contract with Canadian Commercial Corporation (CCC) to get a new $200 million airport terminal building.
Canadian Commercial Corporation (CCC) is a Canadian Government organisation. CCC will select a Canadian developer to develop and operate the project.
At a press conference in the Cabinet Office, the Finance Minister hailed the redevelopment plan as "one of the most important capital projects ever undertaken on our island shores", after signing the public private partnership agreement with CCC's Luc Alari.
Groundbreaking could commence as early as next year, with the project potentially taking three years to complete.
The new infrastructure will enhance the Island's tourism product.
The project's financing model demanded "total transparency, adhering to international best practices", Mr. Richards said. He added that the redevelopment would require no initial expenditure by Bermuda - and that the project would be financially self-sustaining.
Title to the airport and adjacent lands will remain with the Bermuda Government.
Country news
-
-
November 13, 2014
Equitix Infrastructure 3 acquires street lighting PFI
SSE has completed the sale, to Equitix Infrastructure 3 Limited, a fund managed by Equitix, of its 100% equity interest in the special purpose entities (SPEs) established in England under the Private Finance Initiative (PFI), for the delivery of seven street lighting projects. Read more -
November 14, 2014
Equitix Acquires a Portfolio of Three UK PFI Assets from London & Regional Properties
Equitix has completed on the acquisition of 100% equity and subordinated debt interests in a portfolio of three UK PFI and core infrastructure assets from London & Regional Properties. Read more -
November 18, 2014
INPP raises 95 million
The board of directors of International Public Partnerships Limited (INPP) recently announced that the firm has raised £95 million (US$148.8 million) before costs and expenses by selling new shares publicly.The placing was significantly oversubscribed with demand for approximately £125 million (US$195.8 million) from existing and new investors. Read more -
November 19, 2014
British pension funds award 227m infrastructure mandates to IFM investors
Avon Pension Fund and Dorset County Pension Fund have awarded a combined £227 million (US$355.6 million) infrastructure mandates to IFM Investors. Read more -
November 20, 2014
Wales announces 500 million NPD programme
Welsh Finance and Government Business Minister Jane Hutt has announced £500 million (US$782 million) of innovative new investment for the next phase of the 21st Century Schools Programme, starting in 2019. Read more
