Project company Kumppanuuskoulut Oy, formed by YIT and Meridiam Investments II, have signed a service agreement with the City of Espoo on the implementation of five schools and three daycare centres. The total value of the projects, implemented with the PPP model (Public Private Partnership), is approximately EUR 300 million for the whole service period, with YIT’s share being approximately EUR 235 million. The contract will be entered in YIT’s order backlog for the second quarter of the year.

YIT owns 20 percent of Kumppanuuskoulut Oy, and Meridiam Investments II owns the remaining 80 percent. Kumppanuuskoulut Oy has signed construction and maintenance agreements with YIT.

The service agreement covers the construction of and 20 years of maintenance for schools in Nauriskaski, Kuitinmäki, Kilo and Pohjois-Tapiola, school and youth facilities in Perkkaa as well as daycare centres in Perkkaa, Nöykkiönniitty and Kilo. The projects will include facilities for nearly 3,900 children, and the constructed gross area is approximately 45,000 sqm in total.

The construction of the first projects has already started, and the rest of the projects will start in a staggered manner. The projects are scheduled to be gradually completed by 2024.