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| Balfour Beatty invests in Islington secondary schools UK construction giant Balfour Beatty announces that its specialist education PPP concession company, Transform Schools, has been appointed preferred bidder by Islington Council for the £140 million PPP concession to deliver all eight secondary schools and two pupil referral units under the Building Schools for the Future (BSF) programme. The concession, which is anticipated to reach financial close at the end of this year, will be delivered in three phases, commencing in early 2008, over a five-year period. The project is Transform Schools' first full BSF contract which will see the company establishing a Local Education Partnership (LEP) in joint venture with the borough. In addition, Transform will become responsible for the facilities management services and, with our partner RM Education, will design and implement a sophisticated ICT service, including a virtual learning environment. Balfour Beatty will invest £4 million of equity in the initial project which will bring its overall equity commitment to the education sector up to almost £54 million. write your comments about the article :: © 2007 Construction News :: home page |