Enfield LBC and Newham LBC are teaming up for a joint schools private finance initiative deal worth more than£66m ...
Enfield LBC and Newham LBC are teaming up for a joint schools private finance initiative deal worth more than £66m after appointing Equion as preferred bidder.
The councils, which have different decision-making processes, have come up with an ambitious programme to build and refurbish schools.
Equion is an investment company which specialises in PFI and other public/private partnership projects and formulated its bid along with construction company Wates.
Despite growing criticism of PFI from unions, the councils are determined the contract will succeed.
A spokeswoman for Newham LBC said: 'We follow government guidelines for contractual issues and as many safety mechanisms as possible are put in place to comply with those guidelines.'