Kier announces potential new partnership arrangements

11th Dec 2014 11:39

Property construction firm Kier Group has announced two new projected partnership arrangements with local authorities.Kier has been recommended as the preferred bidder for a 10-year property partnership with Staffordshire county council and Staffordshire's police and crime commissioner, valued at £400m. If accepted, the venture will commence in April 2015 with a potential five-year extension.The contract will involve Kier in the development, disposal, acquisition, construction, asset management and facilities management of the estates owned by the involved organisations.In addition, Kier has been awarded a £200m four-year extension of an existing highways services contract with Northamptonshire County Council.Chief executive of Kier Haydn Mursell said: "These new contract awards demonstrate the breadth of offering the group can provide through long-term strategic partnerships."We look forward to working with our partners to deliver more integrated and effective services, whilst also helping them to drive additional cost savings."As of 12:03 on Thursday, Kier's share price rose 4.01% to 1,480p per share.