Amey and Miller Construction have finalised details of a 30-year PFI contract worth £360m for a bundle of schools in Edinburgh.
Amey was named preferred bidder in March but only announced financial closure last Thursday.

It will lead a PFI consortium in which Amey Asset Services will manage the design-and-build with Miller. Amey BPO Services will provide catering, cleaning, security and maintenance.

The Bank of Scotland is also a member of the consortium, called the Edinburgh Schools Partnership.

ESP will borrow £60m from the Bank of Scotland and the European Investment Bank. Capital investment over the next two years is expected to reach £92m.

The partnership will build 10 primary schools, two special schools, two high schools, a secure unit and a community centre. It will also extend and refurbish three high schools and one special school.

Edinburgh council will pay £12m a year to the consortium, subject to agreed service levels. Amey's interests in the core subcontracts are valued as follows:

  • Design-and-build: £46m
  • Lifecycle: £22m
  • Facilities management: £2.8m a year.

Brian Staples, chief executive of Amey, said the contract established the company as a leading player in the educational outsourcing market.

Last year Amey also won the Glasgow Schools Project in a public–private partnership deal valued at £1.2bn.