Contractor will invest 拢5.1m in three schools and a college
Contractor Skanska has reached financial close on the 拢100m 好色先生TV Schools for the Future programme in Essex.
The deal, which was signed this week with Essex council and joint venture partner RM plc, will involve Skanska investing 拢5.1m in three PFI schools and a college for 5,000 pupils. It will be paid 拢71m for the construction of the buildings and 拢1.34m per year for 25 years for facilities management.
The first school is scheduled for completion in September 2011. Under Essex's plans, the partnership may be expanded to cover further schools at a later date.
Steve Cooper, development director, education, for Skanska said: 鈥淲e are very pleased to have reached financial close, and now look forward to focusing on the delivery of the first phase of these exciting new schools.鈥�
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