Balfour Beatty, the international infrastructure group operating in construction services, professional services, support services and infrastructure investments, has announced that it has reached financial close for the £450 million Blackburn with Darwen and Bolton Councils Building Schools for the Future (BSF) programme.

The project involves the delivery of a major capital investment programme over a number of phases comprising the extensive building, remodelling and operation of nine schools in Blackburn with Darwen by 2015 and the building, remodelling and operation of 15 schools, two special educational needs (SEN) schools and seven pupil referral units (PRU's) in Bolton.

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Commenting, Balfour Beatty Chief Executive, Ian Tyler said: "We are delighted to have reached financial close on this project. We look forward to utilising our previous experience, having already worked on nine major UK PPP education projects, to create new, first-class, learning environments as well as facilities that will be available to the whole community including leisure, learning, sports and ICT provision."

Balfour Beatty Education was appointed as preferred bidder for the scheme in October 2009.

(CD/GK)