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Serco preferred for New Grafton Correctional Centre

16 March 2017 07:25

Serco Group has been named preferred bidder to operate the New Grafton Correctional Centre (NGCC) in New South Wales, Australia.

Serco was part of the NorthernPathways consortium, which would design, build and operate NGCC in a Public Private Partnership for the NSW Government.

Once completed, NGCC would be the largest correctional facility in Australia.

Serco's contract for operation was expected to begin in 2020.

The estimated total contract value to Serco over a 20-year term was about A$2.6bn. "The consortium will now enter into final contract negotiations and a further announcement will be made at the appropriate time," said Serco.

Story provided by StockMarketWire.com

Related Company: SRP

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