Balfour Beatty reaches financial close on Hertfordshire Schools PPP scheme that will see delivery of three schools
Balfour Beatty has reached financial close on the £80m Hertfordshire Schools PPP.
The Hertfordshire Schools scheme involves the delivery of a capital investment programme in partnership with Hertfordshire County Council for the design, construction and provision of facilities management for two mainstream secondary schools and a special educational needs school.
Two of the schools will be co-located onto a single site and funded through a PPP route.
Balfour Beatty will invest equity of £4.5m into the 25-year concession to build and maintain these two schools. It will also be responsible for the design and build of the third school, as well as its maintenance for 10 years.
Commenting on the deal, Balfour Beatty chief executive Ian Tyler said: “We look forward to working in close partnership with Hertfordshire County Council to deliver these three schools in Stevenage. We are committed to delivering excellent design and value for the schools and the local community.”
Balfour was announced as the preferred bidder for the scheme in August 2010.
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