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EDUCATION: Consortium to help build 18 schools in Edmonton and Calgary under PPP scheme
        (AlbertaIndex, July 24, Thursday) --- Alberta Infrastructure has named an international consortium to design, build, finance, maintain and renew nine schools in Edmonton and nine schools in Calgary by July 2010.
        The four-member consortium under the pioneering Alberta Schools Alternative Procurement Project includes Australia’s investment and specialised fund and asset management group Babcock & Brown, Graham Construction, Bird Construction and Honeywell International. Babcock & Brown is the project’s developer, equity provider, financial advisor and asset manager.

[mosbanner} Financial close is expected in September 2008.

The Australian firm said the project will include the maintenance and renewal over a 30-year period and the provision of private sector finance. Ownership of the schools will remain with the local school boards.

Mike Garland, Babcock & Brown’s Head of Infrastructure in North America, said:

“We are very pleased to have been announced preferred proponent on this landmark project, the first schools public-private partnership project undertaken in Alberta. The project builds on Babcock & Brown’s 10-year track record of success in the PPP/PFI sector initially in the UK, then Australia, Europe and North America with a number of tenders also being worked on in Asia at the present time.

“We look forward to working with Alberta Infrastructure and our consortium partners to ensure we reach financial close and then move to complete and deliver the project within the expected time frame.”

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