Interserve-Kajima JV reaches financial close on schools project

Construction group Interserve said it has reached financial close on a project to design and build seven secondary schools across Hertfordshire and in Luton and Reading, which is valued at over £135m.Alongside with its joint-venture partner Kajima Corp, the group will be responsible for designing and building the facilities, as well as for maintaining the seven schools, which are expected to house 900 students, for the next 25 years."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 group executive director Dougie Sutherland, who added the company will commit to take on more than 50 young people to work on the projects under apprenticeships and work placements.Interserve shares were down 0.36% to 601.83p at 08:38 on Monday.