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Interserve wins £310m defence PFI

Interserve has taken a £310 million Private Finance Initiative deal to build new offices and accommodation for the Ministry of Defence at Corsham in Wiltshire.

The firm, in a joint venture with John Laing, will be responsible for creating a communications centre of excellence at the site with space for 2,000 defence and civilian staff.

Interserve will work with Laing O’Rourke during the construction of the offices and single living accommodation and will then provide a range of facilities management services worth £194 million over the 25-year operational phase.

Construction will begin immediately and is expected to be complete by 2011.

Interserve and John Laing will each invest £7.0 million in the project as their respective 50 per cent equity/sub-debt stake.