King Sturge (KS) has formed the Machrie Consortium with Ballast Wiltshier and the Royal Bank of Scotland in a successful bid for a £40m Private Finance Initiative (PFI) scheme which will finance and operate two new comprehensive schools in South Wales.
The project brings the value of PFI projects in Wales involving KS to over £200m.
Caerphilly council decided to take the PFI route because limited capital resources would have held up the completion of the developments. The council wants to open the schools by September 2002.
The National Assembly for Wales is currently consulting the public and private sector as it prepares a blueprint for future public and private partnerships.
EGi News 28/09/00
