Balfour Beatty reaches financial close for school programmes worth £106 million
16 December 2010
Balfour Beatty, the international infrastructure group, announces today that it has reached financial close for two schools schemes, the Ealing Schools programme and the Oldham Schools programme, worth £53 million each.
Balfour Beatty, in partnership with Ealing Council, will deliver the new PPP Dormers Wells High School, Southall and will carry out a major refurbishment and partial rebuild of The Cardinal Wiseman Catholic School, Greenford. Balfour Beatty will invest equity of up to £2.7 million into the 25-year concession for Dormers Wells High School.
Balfour Beatty, in partnership with Oldham Borough Council, will deliver a new PPP Roman Catholic secondary school in Oldham, which will bring together two existing mainstream schools, Our Lady’s and St Augustine’s. Balfour Beatty will also extensively remodel the North Chadderton school. Balfour Beatty will invest equity of £3.5 million into the 25-year PPP concession for the delivery of the new Roman Catholic School.
Balfour Beatty Chief Executive, Ian Tyler, said:
“These schemes represent significant investments in education in both Ealing and Oldham. We look forward to delivering these first-class learning environments for the pupils and their teachers while demonstrating our commitment to the local communities through an employment and skills pledge that will leave a lasting skills legacy.”
All construction and facilities management will be carried out by Balfour Beatty. Both schemes include a major investment in the schools’ information and communication technology (ICT).
The main construction and refurbishment works for the schools on both schemes will commence in early 2011.
As part of Balfour Beatty's commitment to the local communities of Ealing and Oldham, Balfour Beatty has pledged an employment and skills package which includes apprenticeships, work placements and curriculum enrichment.
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Notes to Editors:
- Balfour Beatty has 13 PPP concessions in the UK education sector: Oldham, Ealing, Derby City, Blackburn with Darwen and Bolton, Newcastle, Southwark, Islington and Knowsley, Stoke, Bassetlaw, Rotherham, Birmingham and North Lanarkshire.
These programmes involve the construction of over 100 new schools and learning centres and upgrading and maintaining well over 100 others. Balfour Beatty has approximately £70 million of committed equity in the sector.
- Balfour Beatty companies are construction partners in a number of other PPP schools schemes including the BSF schemes in Hackney, Haringey and Greenwich with a total contract value of over £320 million and are framework contractors providing construction services to the £95 million scheme in Hartlepool, the £91 million scheme for North Lanarkshire Council, the £180 million scheme for Manchester City Council and the £100 million scheme in Liverpool.
- Balfour Beatty has a substantial infrastructure investments portfolio. This portfolio consists of:
- North West Fire and Rescue, fire stations upgrade (preferred bidder)
- Nine major hospitals
- 13 schools schemes in the UK, and a technical education centre in Singapore
- Six roads schemes and four street lighting projects (including Coventry street lighting at preferred bidder)
- The London Underground power system
- A coastal defence pathfinder PPP
- Barking Power Station (non-PPP)
- Exeter International Airport (non-PPP)
- Blackpool International Airport (non-PPP)
- 17 US military housing projects for the Army, Navy and Air Force, on or near bases located in 20 states and Washington, DC
- Florida Atlantic University student accommodation
- Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.