Mace wins procurement role on work to replace PFI water jobs for MoD

Existing contracts signed in 2003 and cover 2,400 MoD sites

Costs to soar after funding axed for Kier road job

Local government commissioners have warned that the government’s withdrawal of funding for a £600m PFI highways contract, won by Kier, is likely to damage a bankrupt council’s ability to turn its finances around. On 30 November, the Department for Transport (DfT) confirmed it was ending… The post Costs to soar after funding axed for Kier road job appeared first on Construction News.

Navigating the complexities of PFI handback

With hundreds of PFI contracts due to expire within the next decade, Anthony Walker reviews the challenges and opportunities involved in the handback process.  The post Navigating the complexities of PFI handback appeared first on Construction Management.

Lendlease sued over ‘defective schools’

Lendlease is being pursued by a PFI company it formerly co-owned over alleged defects on five Lancashire schools. The schools – built from 2007 by Lendlease, then called Bovis Lend Lease, under the Building Schools for the Future programme – are the subject of two… The post Lendlease sued over ‘defective schools’ appeared first on Construction News.

Leadership council lobbies chancellor to revive PFI and audit Playbook compliance

The Construction Leadership Council has set out its wish-list in its pre-budget submission to the Treasury.

Phase 1 PFI Expiry Health Checks Learnings Report - Published by Infrastructure and Projects Authority

Expiry presents a significant risk to value for money and continuity of vital public services; and a significant opportunity to ensure assets instrumental in delivering essential public services are well maintained, resilient and fit for purpose beyond the term of the PFI contract. To support preparation for expiry the PFI CoE has established a programme of Expiry Health Checks (EHCs) to support PFI Contracting Authorities (CAs) in assessing their readiness for expiry.

How to avoid PFI contract expiry risks - Published by BCLP, Author Jennifer Varley

Private finance initiative (PFI) projects tend to be long-term, usually lasting for a period of 25 years or more. There is an active secondary market for equity interests in PFI projects: original project developers exit and new longer term investors hold projects to maturity. Notwithstanding this longer-term investment horizon, as time goes on, it is only natural that parties tend to focus more on day-to-day operations and portfolio management and less around the ultimate backstop of expiry.

What preparations should contractors, facilities managers, and supply chains take to be ready for the expiry of PFI concession periods?

Why do hospitals have so many issues during and post construction?