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Tuesday, May 30, 2023

Kier Group signs contract on 97m PFI schools deal in Oldham

Kier Group, in partnership with Dexia Public Finance Bank, has now reached financial close on its PFI bid to provide two new schools for Oldham Borough Council, with a net present value of 97m. Both schools are scheduled to open in February 2008.

The Kier project team comprises PFI specialist Kier Project Investment and facilities management subsidiary Kier Managed Services as service provider for the 25-year term. Construction of the new schools, to replace the existing Failsworth and The Radclyffe secondary schools, will be carried out by Kier Build and Kier North West under a 54.4m construction contract.

Kier Group chief executive John Dodds commented: "We are delighted that contracts have now been signed with Oldham Council and look forward to working closely with them to deliver these new schools as part of the Government's national education initiative."