Balfour Beatty, the international infrastructure group, announces today that it has reached financial close for the £55 million Derby City Building Schools for the Future (BSF) programme.

The Derby City BSF Partnership project involves the delivery of a capital investment programme for schools in Derby in partnership with Derby City Council.

Construction of a new PPP secondary school, Noel Baker and St Martin's School, which brings the co-location of a mainstream secondary school with that of a school for pupils with special education needs, will start in January 2011. The extensive remodelling of Derby Moor School, a design and build secondary school project, will also start in January 2011.

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Balfour Beatty Chief Executive, Ian Tyler, said: "We look forward to working in close partnership with Derby City Council 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 June 2010.

Balfour Beatty will invest equity of £3 million into the 25-year concession.

All construction and facilities management will be carried out by Balfour Beatty. ICT services across all the schools will be delivered in conjunction with RM, a leading supplier of ICT services and solutions to the UK education sector.

(CD/KMcA)