Thursday, September 25, 2003

Equion plc, a subsidiary of John Laing, has reached financial close on two schemes for schools in the London Boroughs of Newham and Enfield, covering the provision of four new schools for over 3,400 pupils.

An innovative feature of the schemes is that they result from the first ever joint procurement of a PFI project by two local authorities. Construction is due to start on the sites immediately with completion expected in 2005. Laing Investments has an 80% equity stake in the project. John Laing now has investments in 46 schools in the UK.