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Balfour Beatty reaches financial close on £140m schools PPP

Balfour Beatty has reached financial close on North Lanarkshire Council's £140 million Education 2010 PPP schools project.
Work will involve building 21 new schools worth £140 million and a £100 million long-term services deal under a 31-year concession.

Three large secondary schools in Airdrie and Coatbridge will be built as well as six primary schools. A further 12 primary schools will be provided over six joint campus facilities and there will be the potential for another three schools to be built.

Balfour Beatty will invest £8 million of equity in the project.

Construction work began under an advance works contract in October 2004. The completed schools will be handed over between January 2006 and October 2008.

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