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Last Updated: Friday, 17 October, 2003, 09:55 GMT 10:55 UK
Jarvis seals 339m university deal
Students on campus
The 38-year university deal is the biggest in the UK
Support services firm Jarvis has won a contract worth 339m ($567m) for the UK's largest university accommodation scheme.

Under the agreement, Jarvis will build and manage as many as 4,426 rooms at Lancaster University over the next 38 years, the company said.

Jarvis put the capital cost of the work at 124m. The news comes a week after the firm quit all rail maintenance work, citing lower than anticipated profits and "reputational issues."

The company had been blamed for a derailment at King's Cross last month, and remains under investigation in connection with the Potters Bar train crash last year.

Jarvis is now working with more than 20 universities and colleges to provide accommodation for more than 20,000 students across the UK.

The company is also responsible for maintaining large sections of the UK's road network.

Jarvis shares were 2.7% higher at 303.5p in morning trade in London.


SEE ALSO:
Jarvis quits rail maintenance
10 Oct 03  |  Business
Jarvis' profits rise
08 Oct 03  |  Beds/Bucks/Herts
Jarvis in court over derailment
29 Sep 03  |  South Yorkshire
Students' rooms are not yet built
22 Sep 03  |  Education
Students demand better digs
08 Aug 03  |  Education


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