Contractor reaches financial close on £140m PPP project for North Lanarkshire Council.

Contractor Balfour Beatty has reached financial close on a £140m PPP project in North Lanarkshire in Scotland.

The project is North Lanarkshire Council’s Education 2010 programme, which involves £140m worth of capital works and more than £100m of long-term service revenue.

The programme will involve the construction of 21 new schools, including three large secondary schools in Airdrie and Coatbridge, six primary schools and another 12 primary schools across six joint campus facilities.

Balfour Beatty will invest £8m in the project and its joint venture partner Innisfree has established Transform Schools as the concession company.

Balfour subsidiary Haden Building Management will provide facilities management services across the schools.

Chief executive Ian Tyler said: “We will provide the Council with a greatly enhanced education environment through the design, construction and servicing of state-of-the-art facilities.