Balfour Beatty, the international infrastructure group, has announced today that it has reached financial close for the North West Fire and Rescue Services PPP scheme, the capital value of which is approximately £48 million.

North West Fire and Rescue Services comprises Cumbria County Council, Lancashire Combined Fire Authority and Merseyside Fire and Rescue Authority.

The 25-year concession will involve the design, construction, funding and provision of facilities management for 16 community fire stations, of which seven are in Merseyside, five in Cumbria, and four in Lancashire. As well as modernised operational facilities, the stations will provide resources for community use, such as meeting rooms, multi-function lecture rooms and gyms.

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The stations will be constructed on a mixture of new and existing sites in a range of locations from rural stations with retained crews, to busy inner-city stations with full-time crews. Construction of five of the fire stations will begin in February 2011, with all construction work to be completed by 2013.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted that Balfour Beatty has reached financial close for the UK fire service’s biggest PPP project to date. The upgrade of the stations will help meet the changing needs and support the modern practices of the fire and rescue service, and provide a better environment for working, learning and training.

"We look forward to working with Cumbria County Council, Lancashire Combined Fire Authority and Merseyside Fire and Rescue Authority."

Balfour Beatty will invest approximately £5.5 million of equity into the wholly-owned concession.

(CD)