KPMG congratulates the Ministry of Education on a successful commercial and financial close to schools PPP 3 project.
The project will initially see three new primary schools built in Auckland and Hamilton as well as a rebuild of Shirley Boys’ High School and Avonside Girls’ High School in Christchurch by the successful consortium ShapEd. The consortium’s role is to design, build, finance and maintain the schools over a 25 year operating term.
KPMG’s Infrastructure team, led by Adrian Wimmers, is proud to have supported the Ministry as lead financial and commercial advisor on this innovative PPP transaction. In a New Zealand first, the Project Agreement enables the Ministry to add additional schools to the project bundle post-Financial Close. KPMG has advised the Ministry on all three of its New Zealand Schools PPP transactions.
We see this project as closely aligned to KPMG’s drive to fuel New Zealand’s prosperity, as the PPP contractual approach provides strong incentives to ensure that the schools will operate at high levels of quality and service for decades to come. For more details, see the press release
Head of Infrastructure
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