Interserve wins £95m schools PFI

Interserve has reached financial close on a £95m PFI contract with Cornwall County Council covering 17 schools in and around Truro and Penryn.

Interserve's consortium Pyramid Schools (Cornwall) will deliver both construction and facilities services in the project.

Two of the schools will be completely new and will replace existing facilities. These are the 1,350-pupil Richard Lander secondary school in Truro, scheduled to open in September 2006 and the Devoran primary school, due to open in September 2007. 

Building work on the remaining 15 schools will consist of extensions, remodelling and refurbishment.

Interserve will also provide facilities services to the existing schools for a period of 28 years beginning immediately and will do the same for the new schools when they open. 

Services include building maintenance, caretaking and porterage, energy and utilities, catering, cleaning and waste disposal, security and grounds maintenance.

Bruce Melizan, managing director of Interserve Investments, said: "This is a significant addition to our portfolio of education PFIs, which now accounts for seven of our 21 signed projects and 32 individual schools."