Contractor named for £192m Rochdale schools scheme

CONSTRUCTION firm Carillion has been selected as preferred bidder for Rochdale Building Schools for the Future PFI programme, worth approximately £192m. 

The  Local Education Partnership, which includes Carillion, Rochdale Council and finance partner Building Schools for the Future Investments, expects to deliver 13 new or refurbished schools in three phases over a 4-year period. 

Carillion expects to carry out the building and refurbishment work for which the capital cost is approximately £180m, with work due to start January next year.

Four of the 13 schools are expected to be privately financed by a combination of borrowing and equity.

One of these, Hollingworth School, is to be delivered in the first phase, in which Carillion expects to invest some £2.4m of equity.

Carillion also expects to invest in the other three privately financed schools. In addition, the firm expects to provide facilities management services for all four privately financed schools, generating approximately £12m of revenue over a 25-year period.

Chief executive, John McDonough, said: ‘We are delighted to have been appointed as preferred bidder for this major programme and look forward to building a strong and successful relationship with Rochdale, its head teachers and their staff, to provide schools that will enable them to deliver a first-class learning experience for their students, as well as high-quality community facilities.”