Services, maintenance and building group and FTSE 250 constituent Interserve (AIM: IRV) has secured two deals from Sandwell College and Ducab HV worth a total £117 million.
The work on the 25,300 sq m (square metre) £77 million campus for Sandwell College has already begun following confirmation of funding by the Learning and Skills Council at the end of August with the construction set to be complete in 2011. The company has another project in Sandwell, being in early stages of construction in the £280 million Building Schools for the Future programme signed with the Metropolitan Borough Council in August.
Interserve simultaneously announced a £40 million contract to build a factory complex for the Ducab HV joint venture comprising Dubai Cable Company (DUCAB), Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Electricity and Water Authority (ADWEA). The construction of the facilities, including offices, factory and utility buildings, will commence in November and conclude in approximately 12 months.
The company said the deal indicated “continued commitment to commercial growth in the region.”