INPP will commit a further GBP 6.8 million (US$ 8.36 million) to acquire stakes in the two PFI project companies that own the Project’s four schools which typically provide education facilities to over 3,700 secondary school pupils across Essex, UK. INPP acquired the additional interest in the Project from Skanska UK Pension Fund, RM plc, and the Essex County Council to increase the Company’s existing investment to 28 percent on phase 1 and 100 percent on phase 2. The Project has a long operational life with the contracts on phase 1 and phase 2 due to expire on December 31, 2036.

The Project includes Castle View School and Cornelius Vermuyden School and Arts College on Canvey Island; Columbus New Model Special School in Chelmsford, and Woodlands School in Basildon.  At present all of the schools are open to children of key workers and project operations are being maintained in the usual way notwithstanding the COVID-19 pandemic.