Carillion JV seals £208m Nottingham BSF contract

Source: Construction Digital

Date :19/06/2008 10:26:09

Carillion and its joint venture partner, the Local Education Partnership (LEP), have achieved financial close on the £208million Nottingham Building Schools for the Future (BSF) programme.

The building and services group said yesterday, June 18, it had reached financial close on a deal to deliver eight secondary schools through new-build and refurbishment.

Carillion said it will provide a fully integrated solution for the new schools. This will include investing around £4million of equity in the project and construction work, valued at £180million. It will also provide facilities management services for three of the schools, worth around £28million over 25 years.

Partnership

Commenting, John McDonough, Carillion Chief Executive, said: “We are delighted to have achieved financial close on our second project under the BSF programme, which we expect to be a strong growth area for the group.

We have built an excellent partnership with Nottingham City Council and now look forward to helping them deliver their education vision of sustainable and state-of-the-art community focused schools.”

Building work on the new schools will begin this month and will be completed in 2010, Carillion said.