A new school has become the first of 12 projects to reach financial close after getting the go ahead by deputy first minister John Swinney.

The new £25 million Ayr Academy in South Ayrshire, being built by Kier Construction under the hub funding model, will now begin construction later this month. The school was designed by BDP.

In November, Mr Swinney gave the green light for ten new schools and two new health projects being built under the hub finance model to proceed to financial close as soon as possible – delivering an estimated capital investment value of around £330m.

This followed a ruling by the Office for National Statistics (ONS) that changes to the hub model made by Scottish Futures Trust (SFT) would adhere to updated EU accounting guidelines, enabling these 12 projects to proceed.

Mr Swinney said: “The Scottish Government has always prioritised public infrastructure projects as a critical tool for growing our economic recovery.

“This is an important milestone for Ayr Academy, and I am pleased that construction for this new state-of-the-art facility will now begin by the end of this month.

“These developments will make an enormous difference in local communities, not just from the jobs that the construction will bring, but in the health and education benefits they will provide to local people.

“Work continues on getting the remaining 11 projects to reach financial close as soon as possible, so construction can also begin.”

Peter Reekie, deputy chief executive of the Scottish Future Trust, said: “Reaching this milestone in just a few weeks since ONS confirmed its classification of SFT’s amended hub structure proposals is fantastic news. It is testament to the partnership working by hub South West Scotland, South Ayrshire Council and the expert programme team at SFT that such a rapid agreement has been reached allowing Ayr Academy to start construction.”

Michael McBrearty, chief executive of development partner hub South West Scotland, added: “This milestone has taken months of planning between all collaborators involved in this fantastic project, but with formalities now completed we will soon be able to see the new school taking shape.

“There is no question that this development will be of great benefit to Ayr and the surrounding area and we are committed to delivering a first class facility that will have a long lasting impression on the town.

“We look forward to continue to work with South Ayrshire Council, Kier Construction, SFT and our other collaborators to deliver a school local pupils can be proud of.”