BBGI SICAV has announced the acquisition of the remaining 50% it didn’t already own in the Northern Territories Secure Facilities PPP Project in Australia.
The Northern Territory Secure Facilities is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. NTSF became operational in 2014 and allows Northern Territory Corrections to engage prisoners into structured daily programs in order to foster rehabilitation and stronger re-integration.
The concession term runs until June 2044. BBGI will receive availability payments during the concession period from the Northern Territory government which is rated Aa1 by Moody’s Investor Services.
BBGI buys rest of prison project