Balfour Beatty has reached financial close on three schools collectively worth £80 million for Hertfordshire County Council.
The Hertfordshire Schools PPP Scheme will see Balfour Beatty deliver the design, construction and facilities management for two secondary schools and a special needs school.
The company’s education division was appointed preferred bidder in August 2010. 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.
The company will also be responsible for the design and build of the third school, as well as its maintenance for 10 years.
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.”