Two PFI projects, worth £119m, have reached financial close despite the challenging financial environment, project specialists 4ps have announced. The projects, a leisure and public services complex in Wigan and five new fire stations in the North East, were supported by local government’s project delivery specialists, 4ps. Join discussion...

Lancashire County Council has reached financial close with Catalyst Lend Lease on the £71 million Phase 3 stage of its BSF scheme. These projects will be delivered through Lend Lease’s integrated model led by Catalyst Lend Lease, with Bovis Lend Lease being responsible for the construction of all schools and Vita Lend Lease for the facilities management. Join discussion...

Cumbria county council and Shanks today (June 4) announced they have reached financial close on their £720 million, 25-year public private partnership (PPP) contract. The deal, which begins immediately, will see the Milton Keynes-based company building two 75,000 tonne-a-year capacity mechanical biological treatment (MBT) facilities to treat the county's residual household waste, as well as take over the management of the county's household waste recycling centres. The Cumbrian MBT facilities are expected to use a similar process to the one Shanks uses at its Dumfries plant Altogether, Shanks will be dealing with 220,000 tonnes a year of Cumbria's waste, as the county seeks to divert 67% of its household waste from landfill by 2015. Join discussion...

Partnership will aim to deliver more than 10 schools project in Southwark area A £200m partnership agreement between Balfour Beatty, Southwark council, Partnerships for Schools and Building Schools for the Future Investments (BSFI) has reached financial close today. Southwark council, Balfour Beatty (trading as Transform Schools) and BSFI, signed off the deal after a 20-month procurement process. Join discussion...

Engineering, construction and services group Balfour Beatty PLC (LSE: BBY) said Consort, its specialist Public Private Partnership healthcare company, has reached financial close on the £170 million Fife General Hospital and Maternity Services PPP project for NHS Fife. Join discussion...

The £5.5bn M25 widening scheme is set for financial close in early May, with the scheme attracting more funding than it needs from participating banks. The Highways Agency said today that the “earliest date” for signing the deal was likely to be early May, meaning the scheme will not be on the ground by next week, as initially planned. Join discussion...

The deal will trigger a £640 million construction programme, creating a network of state-of-the-art recycling facilities over the next 5 years. During this period, it is estimated that at least 5000 much-needed jobs in the building trade and the wider economy will be added to the 620 jobs at Greater Manchester Waste based in Bolton, which are secured and upskilled to "green collar" jobs by this contract. Viridor Laing are planning to increase the permanent workforce by another 116 staff once the facilities are up and running. This contract is worth £3.8 billion to Viridor Laing and will increase costs (at today’s prices) to Greater Manchester householders by £1 per week. However, this compares favourably with the cost of a “do nothing, build nothing” option which would cost an extra £2 a week mostly in Landfill Tax and penalties. Join discussion...

Sodexo has reached financial closure on a €35m (£33m) new schools Public Private Partnership (PPP) in Ireland. Join discussion...

Delhi Airport Metro Express Pvt. Ltd. (DAMEPL), a Special Purpose Vehicle (SPV) set up by Reliance Infrastructure Ltd. in consortium with Construcciones Y Auxiliar De Ferrocarriles, S.A. (CAF) of Spain, signed the financing agreements for long term loans from financial institutions including lead manager Axis Bank in Delhi Join discussion...

At a time when India Inc is struggling to raise funds for their expansions plans, construction firm IRB Infrastructure Developers has concluded financial closure of its Surat-Dahisar six-lane road project, raising Rs 1,956 core debt and another Rs 544 crore in equity. Join discussion...