HICL Infrastructure invests £7.2m in building new schools

11th Mar 2015 09:01

HICL Infrastructure announced a new investment of £7.2m to build new schools in the North East.The infrastructure investment company said it will invest in the the Priority Schools Building Programme ("PSBP") North East Batch Project.The project, worth £103m, will compromise six new secondary schools and six primary schools. It is part of the wider project PSBP, which goal is to build or repair 260 schools under the Education Funding Agency guidelines.A subsidiary of Galliford Try will undertake the construction works during 18 months, after demolishing redundant buildings.Galliford announced on Wednesday it has closed a £160m contract under the government's new private finance aggregator model to build schools in the North East and North Wales.Shares in HICL Infrastructure were up 0.26% to 156.4p on Wednesday at 09:18.