Carillion Construction will build eight schools at a capital cost of 拢138m. 聽Carillion AMBS will carry out building maintenance and facilities management over the 25-year life of the concession contract, generating an additional 拢49m of revenue, approximately, over the full term.聽
Carillion expects to invest 拢5.5m of equity in the project. The contract is a public private partnership using the government's PF2 model.
PSBP Midlands Limited, a special purpose vehicle created by a 50:50 joint venture of Carillion and Equitix will be responsible for the delivery of the schools.聽
The new schools will be constructed over a two-year period to replaced existing school facilities. These are:
- Alfreton Grange Arts College, Derbyshire
- ARK Kings Academy, Birmingham
- Greenwood Academy, Birmingham
- Plantsbrook School, Birmingham
- President Kennedy School, Coventry
- The Phoenix Collegiate, Sandwell
- The Queen Elizabeth Academy, Warwickshire
- Top Valley Academy, Nottingham
Carillion chief executive Richard Howson said the deal was 鈥渁n excellent example of collaboration between the public and private sectors鈥�.
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