CIMIC achieves commercial close of prison PPP in New Zealand

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CIMIC has announced that its group companies Pacific Partnerships and CPB Contractors, with their consortium partners, have reached contractual close with the New Zealand Government of the Waikeria Corrections and Treatment Facility Public Private Partnership (PPP) project.

The Waikeria Corrections and Treatment Facility will deliver accommodation for 500 prisoners, along with a secure mental health unit providing care for additional prisoners. It will be built on the site of the existing Waikeria Prison in the Waikato region (upper North Island) of New Zealand.

CIMIC Group has led the development of the project, with Pacific Partnerships leading the consortium formation and providing equity financing for 25 years, and CPB Contractors undertaking design and construction of the facility.

Revenue to CIMIC Group is approximately NZ$750 million, with construction having commenced through an early works agreement and the new Waikeria facility set to open in 2022.

CIMIC Group companies Pacific Partnerships and CPB Contractors are joined by consortium partners HRL Morrison for financing, Cushman & Wakefield in providing facilities services and electronic security services provider Honeywell.

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