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The LEP, comprising Rochdale Borough Council, Building Schools for the Future Investments LLP (BSFI) and Carillion, expects to deliver 13 new or refurbished schools in three phases over a four-year period.
Carillion expects to carryout the building and refurbishment work for which the capital cost is approximately £180 million, with work due to start in January 2010.
Four of the thirteen schools are expected to be privately financed by a combination of borrowing and equity.
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One of these, Hollingworth School, is to be delivered in the first phase, in which Carillion expects to invest some £2.4 million of equity. Carillion also expects to invest equity in the other three privately financed schools.
In addition, Carillion expects to provide facilities management services for all four privately financed schools, generating approximately £12 million of revenue over a 25-year concession period.
Chief Executive, John McDonough, said: "We are delighted to have been appointed as preferred bidder for this major programme and look forward to building a strong and successful relationship with Rochdale, its head teachers and their staff, to provide schools that will enable them to deliver a first-class learning experience for their students, as well as high-quality community facilities.
"This latest success further consolidates Carillion's position as one of the UK's leading suppliers to the Government's £55 billion Building Schools for the Future programme and brings the total value of the BSF projects that we have won or for which we are preferred bidder to £1.4 billion, in addition to which we are shortlisted for a further three BSF projects worth some £2 billion."
(CD/BMcC)
