SYNDEY, AUSTRALIA, April 21, 2009 –Brookfield Multiplex, a wholly owned subsidiary of global infrastructure and property giant Brookfield Asset Management (NYSE:BAM, TSX:BAM/A, Euronext:BAMA), has been appointed as the Managing Contractor for the Western Sydney Region in NSW’s largest ever school building program. The project is part of the Commonwealth Government’s Nation Building – Economic Stimulus Plan.
NSW Premier, Nathan Rees, said “NSW is now embarking on the fastest program of capital expenditure ever delivered in its history. Compare this task to what we delivered for the Olympics - it is twice the budget, to be delivered in half the time and with a hundred times as many projects.
Over $2.8 billion of the Commonwealth’s Nation Building funds is being used to benefit our school communities in these difficult economic times. We will be delivering over 12,700 projects. This means there will be up to $400 million of expenditure in the 10 education regions in NSW over 24 months.”
Brookfield Multiplex will manage the design and construction of infrastructure works to individual public schools within the Western region bounded by Parramatta, Blacktown, Penrith, Baulkham Hills, Blue Mountains and the Hawkesbury.
The project will further expand Brookfield Multiplex’s people capacity and competency and give rise to employment opportunities for additional staff and subcontractors.
Brookfield Multiplex’s Chief Executive Officer, Ross McDiven, said the company was pleased to be involved in the largest ever school building program .
“This is an extraordinary task for all involved. We’re looking forward to delivering construction and infrastructure works to the people and schools of Western Sydney,” Mr McDiven said.
“The program will assist to sustain and create jobs in the building industry as well as benefit students, teachers and suppliers.”
The works will involve the provision of a wide range of facilities and varying school improvements such as communal halls, libraries, covered learning areas, canteens, administration blocks and upgrade of existing facilities and services – e.g. roof replacements, electrical upgrades and additions to the existing buildings.
The program will see an estimated timetable as follows:
• 20% of schools to start construction by June 2009 (~38 schools)
• 40% of schools to start construction by July 2009 (~75 schools)
• 40% of schools to start construction by December 2009 (~75 schools)
• 100% of schools to be completed in December 2010
For more information contact:
Head of Marketing and Communications
Tel: (02) 9256 5753, 0410 535 250