Balfour Beatty secures 25-year Bassetlaw PFI deal for new schools in Nottinghamshire.

Balfour Beatty has reached financial close on the £127m Bassetlaw Schools PFI concession for Nottinghamshire County Council.

The 25-year deal will see Balfour Beatty’s PFI concession company Transform Schools build four new schools, a new special school, two new centres for post-16 education in Retford and Worksop, and a new secondary school in Tuxford. Two new leisure centres will also be built in Bassetlaw.

Balfour Beatty chief executive Ian Tyler said: “The new facilities will bring benefits to the schools and their wider communities. Our objective is to bring the same level of professionalism and service to this task as the work we are carrying out in our Stoke, Rotherham and North Lanarkshire Schools PFIs.”

Completion of the new facilities is scheduled for 2006 and 2007 and Balfour Beatty will invest some £7 million of equity in the project.