The schools referred to by the Deputy form part of the current Schools Bundle 5 PPP programme. In respect of that programme, a contract exists between my Department and the Principal contractor, Inspired Spaces. Inspiredspaces is the Special Purpose Vehicle (SPV) responsible for the design, construction, finance, operation and maintenance of the programme.
The company referred to by the Deputy has been a 50% shareholder in Inspired Spaces. The other shareholder in the SPV is the Dutch Infrastructure Fund (DIF).
Inspired Spaces remains in place as the SPV responsible for delivery of Schools Bundle 5. The PPP contract between my Department and the SPV equally remains in place. The National Development Finance Agency (NDFA) manages that contract on behalf of my Department.
The Dutch Infrastructure Fund is now required to intervene to ensure that the schools in the PPP programme are completed to the satisfaction of the State. It is currently in the process of developing a rectification plan and remains in close contact with the NDFA in that regard. The outcome of this process will provide greater clarity in relation to likely school completion dates.
The Dutch Infrastructure Fund has confirmed that resolution of the situation is its top priority.