BAM PPP is sponsoring the deal with sister company BAM Construct UK. BAM Construction will do the building work and BAM Facilities Management will provide facilities management services throughout the 25 year operational concession period. RM Education will provide the ICT managed services to the schools. Long term fixed rate debt is being provided by Aviva.
Alongside the delivery of these services, a new partnership company has been formed between Camden Council and BAM, specifically for the delivery of the new schools and partnering services.
The contracts will provide the following facilities in Camden:
- New PFI Academy sponsored by the University College London
- New PFI all-through special educational needs school for children aged between 3-19 years
- Part new-build/part refurbishment of the existing South Camden Community Secondary School.
Construction work on the sites has just begun and the first new school is scheduled to open in June 2012.