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Bids sought in New Deal
00:00 07 Oct 1998
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The London Borough of Tower Hamlets is inviting tenders for a
£75 million project to tackle the repairs backlog at over 40
schools within the borough under the New Deal for Schools
regime.
The scheme is likely to go forward as a PFI project should that be judged the best option in terms of value for money and risk transfer. The project has been approved for procurement by the Treasury Taskforce and has been listed as a Treasury Significant Project. The scheme will encompass a design, build, finance and operate contract for a grouped schools project of building improvement and maintenance and environmental management.
There is also a possibility of an extensive rebuild and refurbishment of an existing school with new sports facilities being included in the project. The concession period is likely to be around 25 years.
The Tower Hamlets scheme has been given pilot status by the Department for Education and Employment, making it one of five grouped school projects with that status.
The scheme is likely to go forward as a PFI project should that be judged the best option in terms of value for money and risk transfer. The project has been approved for procurement by the Treasury Taskforce and has been listed as a Treasury Significant Project. The scheme will encompass a design, build, finance and operate contract for a grouped schools project of building improvement and maintenance and environmental management.
There is also a possibility of an extensive rebuild and refurbishment of an existing school with new sports facilities being included in the project. The concession period is likely to be around 25 years.
The Tower Hamlets scheme has been given pilot status by the Department for Education and Employment, making it one of five grouped school projects with that status.
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