Balfour wins £175m Oldham PFI deal
CONSTRUCTION group Balfour Beatty has been appointed as preferred bidder by Oldham Council for its £175m private finance initiative (PFI) schools building scheme.Building Schools for the Future (BSF) programme.
The 25-year deal under the Building Schools for the Future contract involves the delivery of new buildings and upgrades to eight of the borough’s schools, a pupil referral unit and the construction of a new school in Chadderton.
The first phase of construction, to start in January, will involve the delivery of the new Oldham Roman Catholic School and the partial rebuild of North Chadderton School.
Upgrades, expansions and new buildings for the other schools will be carried out between 2012-14, with all construction work completed by 2015.
Chief Executive Ian Tyler said: “We are delighted to have been awarded preferred bidder status for Oldham Council’s BSF scheme. We look forward to developing a local education partnership with the council and partnerships for Schools to deliver excellent design and value for all schools in the programme, as well as maximising the economic benefit to the Borough.”
Balfour Beatty said it will invest equity of £3.2m into the delivery of the first sample school, Oldham Roman Catholic School, with the potential for a total of up to £6.2m equity investment in the 25-year programme as a whole.
