Balfour Beatty has closed the deal on the North-west fire and rescue services PPP scheme, worth £48 million.
The 25-year deal is the largest of its kind ever awarded and includes design, construction and facilities management for 16 community fire stations across the region.
Of the stations included, seven are part of Merseyside fire and rescue authority, five are Cumbria county council and Lancashire combined fire authority has four.
The stations will be built on new and existing sites in a range of settings.
Work will begin on five stations this month, with all construction completed by 2013.
As well as modernised operational facilities, the stations will provide resources for community use, such as meeting rooms, multi-function lecture rooms and gyms.
Balfour Beatty chief executive Ian Tyler said: “We are delighted that Balfour Beatty has reached financial close for the UK fire service’s biggest PPP project to date. The upgrade of the stations will help meet the changing needs and support the modern practices of the fire and rescue service, and provide a better environment for working, learning and training.
“We look forward to working with Cumbria County Council, Lancashire Combined Fire Authority and Merseyside Fire and Rescue Authority.”
“Balfour Beatty will invest approximately £5.5 million of equity into the wholly-owned concession.”