Premier Prison Services Preferred Bidder
Date : 02 December 1998
PPS has been chosen as Preferred Bidder for the design, construction, management and financing of an 800 place Category B prison for adult males at Marchington, East Staffordshire. 200 of these places will be set aside for a therapeutic community, where volunteer prisoners address their offending behaviour through group therapy over the course of 1-2 years of their sentence.
The capital value of the 25-year contract is approximately £65 million and approximately £240 million at March 1999 prices for the management of the facility. The prison is due to open in October 2000.
PPS is a joint venture company owned 50% by Serco Limited, a wholly owned subsidiary of Serco Group plc, and 50% by Wackenhut Corrections (UK) Limited, a wholly owned subsidiary of Wackenhut Corrections Corporation. Serco will be investing approximately £4 million into the financing of the project over the next two years, representing its 50% share of the total investment.
The new prison will be built under the terms of the Private Finance Initiative.
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