Balfour Beatty achieved financial close on the second phase of the Blackburn with Darwen BSF project on 15 September 2010.
This phase includes the build of two new schools, the Witton Park and New East Blackburn. Construction is scheduled to start in January 2011 and is expected to last 22 months. Total expendicture will be £47 million. Following construction the operating stage of the project will last 25 years.
Senior funding of £49.6 million was provided equally by Dexia and Nord LB.
Phase I of the project reached financial close on 12 January 2010 for which Operis provided financial model auditng services including tax and accounting review.
For phase II Operis also provided financial model due diligence services and full tax and accounting review on behalf of the funders, BSFI and the procuring authorities.
