Support services firm Carillion has secured a massive contract with Oxfordshire County Council, designed to save the local authority over half a million pounds a year.
The 10-year deal to provide property and facilities management could be worth up to £700m to Carillion.
It is the first time that the council has grouped all of its property services into one contract, the firm said.
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It added that this was the first local authority contract of this kind in the UK and would save the council at least £550,000 a year.
However, the company was quick to say quality would not be sacrificed.
"While contracted savings form the foundation of the solution, there is a strong commitment to improve quality to all service users by transforming the structure of service delivery and developing the skills of the people on the frontline of service delivery," it said.
Carillion will earn £500m from the provision of property and facilities management services.
A framework agreement has also been put in place through which other local councils and bodies within Oxfordshire can procure services that could increase Carillion's revenue by an additional £200m over the 10-year contract period, the firm said.
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