Preferred Bidder Selection
BICC PLC
18 August 1999
BICC PREFERRED BIDDER FOR STOKE SCHOOLS PFI PROJECT
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BICC announces today that a concession joint venture between BICC plc and
Innisfree has today been selected as preferred bidder by Stoke-on-Trent City
Council for the £125 million Stoke Schools PFI contract, the largest grouped
schools project to have progressed this far in the UK.
BICC, through Balfour Beatty, and Innisfree will be responsible, under the PFI
(Private Finance Initiative), for the refurbishment, repair and maintenance of
120 schools, together with the provision of energy and water, for 25 years
from the date of Financial Close, which is anticipated to be in the Autumn
1999.
The project is unique in that it covers the full school stock of Stoke-on-
Trent LEA, including the voluntary aided sector. It will also include the
construction of a number of new schools.
The design and construction will be carried out by Balfour Beatty Construction
in conjunction with Balfour Kilpatrick, both BICC subsidiaries.
Haden Building Management, also a subsidiary of BICC, will be responsible for
the management of the services.
Mike Welton, Chief Executive, Balfour Beatty Limited, commenting today, said:
'We are delighted to have been named preferred bidder, thus bringing to bear
our diverse depth of experience in major, multi-discipline projects under the
Private Finance Initiative.
'Balfour Beatty and Stoke-on-Trent City Council look forward to working
together to reach Financial Close and providing the local community with high
quality, modern educational facilities which will play an important part in
helping to raise educational standards for the City.'
Enquiries to:-
Tim Sharp
BICC Group
Tel: 0171 629 6622
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