LONDON (ShareCast) - Carillion's joint venture with Equitix has been selected for a £190m public-private partnership project (PPP) in the Midlands under the priority school building programme.
The venture will finance, design, build and provide hard facilities management for eight schools.

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

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 £20m of equity and from which we expect to generate around £175m of construction revenue."

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