BPE Partners backs out of Education Ministry’s PPP schools project

BPE Partners has reportedly decided not to participate in an Education Ministry tender to build 200 schools under a PPP framework, an unconfirmed report in Al Mal said yesterday. Feasibility studies conducted after BPE was shortlisted revealed that the EGP 3 bn project is not in sync with the company’s current strategy, sources tell the newspaper. Orascom Construction, Al Maadaen Holding, Carillion, and a consortium led by the UK’s Bridge Capital were also among those shortlisted for the project.