Balfour Beatty has reached financial close on the £55 million Derby City Building Schools for the Future programme.
Work will cover construction of a new PPP secondary school, Noel Baker and St Martin’s School, and is set to start in January 2011. The extensive remodelling of Derby Moor School, a design and build secondary school project, will also start in January 2011.
Balfour Beatty Education was appointed as preferred bidder for the scheme in June 2010.
The Derby City BSF Partnership project involves the delivery of a capital investment programme for schools in Derby in partnership with Derby City Council.
Balfour Beatty chief executive Ian Tyler said: “We look forward to working in close partnership with Derby City Council to create new, first-class, learning environments as well as facilities that will be available to the whole community including leisure, learning, sports and ICT provision.”
Balfour Beatty will invest equity of £3m into the 25-year concession.