Balfour named preferred bidder for £56m Bimingham schools PFI

Balfour Beatty has today (Tuesday) been appointed preferred bidder for the £56m, 30-year Birmingham schools PFI.

As part of the Transform Schools consortium Balfour will provide a total of 12 new and refurbished schools, including two secondary schools, nine primary schools and one early years centre within the city.
 
Balfour fought off competition from the Axiom consortium, headed by Galliford Try, which was the only other contender for the work.
 
The project is expected to reach financial close in May 2005 and will see Balfour invest some £3.5m of equity in the scheme.

Construction work, which will have a phased completion with the first schools handed over in 2007 and completion of all the schools in 2008, will be carried out by a joint venture of Balfour subsidiaries, Balfour Beatty Construction and Balfour Kilpatrick.
 
Facilities management will be undertaken by Haden Building Management.