Carillion‘s joint venture with Equitix has been appointed to deliver the Midlands Private Finance Batch under the Priority School Building Programme (PSBP).

The Selected Bidder will finance, design, build and provide hard facilities management for the eight schools under a £190 million Public Private Partnership scheme.

This programme forms part of the Government’s £750 million Priority School Building Programme through which the Education Funding Agency is procuring projects to renew those parts of the schools estate in England that have been prioritised for replacement or upgrading.

Carillion expects to invest up to approximately £9 million of equity in the project from which we also expect to generate construction and services revenues of approximately £190 million over the life of the 27-year construction and concession contract.

The Midlands Priority Schools Building Programme will improve education facilities and outcomes for the pupils and staff in the eight schools listed below, by replacing substandard buildings and providing excellent facilities to support teaching and learning.

Schools:

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: “We are delighted that we have been appointed as the Selected Bidder for the Midlands Private Finance Batch under the Priority School Building Programme.

“This is the second major PPP project in the UK for which we have been selected as the preferred bidder this year, following our success in being selected for the Aberdeen Western Peripheral Route in which we will invest some £20 million of equity and from which we expect to generate around £175 million of construction revenue.”