LONDON (Alliance News) - Interserve PLC on Monday said it and joint venture partner Kajima Corp, a Japanese construction company, have reached financial close on a project to design and build seven secondary schools across Hertfordshire and in Luton and Reading.
The scheme, procured under the UK government's Priority Schools Building Programme, has a capital value in excess of GBP135 million, Interserve said.
The Interserve Kajima joint venture will be responsible for the design and construction of the schools, along with all maintenance services for 25 years. The joint venture was named preferred bidder for the contract in April 2014.
"This is the 20th privately-financed education project in which the group has invested and underlines our support for the government's investment in education," said Interserve Executive Director Dougie Sutherland.
"As well as providing some 900 new schools places for students in Hertfordshire, Luton and Reading, we will commit to take on more than 50 young people to work on the projects under NVQs, apprenticeships and work placements," Sutherland added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
