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John Laing and Shepherd reach financial close £30m PFI project

John Laing and Shepherd Construction have reached financial close on the North East Fire and Rescue Authorities £30 million PFI project.

The 25 year contract is for the design, construction, finance and operation of five community fire stations in the North East for the Tyne and Wear, Durham and Darlington and Northumberland Fire and Rescue Authorities, as well as a headquarters based in West Hartford.

John Laing is providing 80 per cent of the equity for the project and Shepherd Construction will provide the remaining 20 per cent and build the new fire stations.

John Laing Integrated Services will also deliver facilities management services.