Balfour Beatty, the international infrastructure group, has announced that it has reached financial close for the £80 million Hertfordshire Schools scheme.

The Hertfordshire Schools scheme involves the delivery of a capital investment programme in partnership with Hertfordshire County Council for the design, construction and provision of facilities management for two mainstream secondary schools and a special educational needs school.

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Balfour Beatty Chief Executive, Ian Tyler, said: "We look forward to working in close partnership with Hertfordshire County Council to deliver these three schools in Stevenage. We are committed to delivering excellent design and value for the schools and the local community."

Balfour Beatty Education was appointed as preferred bidder for the scheme in August 2010.

Two of the schools will be co-located onto a single site and funded through a PPP route. Balfour Beatty will invest equity of £4.5 million into the 25-year concession to build and maintain these two schools. The company will also be responsible for the design and build of the third school, as well as its maintenance for 10 years.

(CD/GK)