Contractor reaches financial close on children鈥檚 and women鈥檚 hospital
Balfour Beatty has reached financial close on a 拢196m children鈥檚 and women鈥檚 hospital in British Columbia, Canada.
Balfour Beatty Investments will invest 70% of the equity required for the scheme, or up to 拢8.9m, as part of the Affinity Partnerships consortium.
Balfour Beatty was announced as preferred bidder in January.
The PPP project scope covers the design, construction, financing and facilities management for a new children鈥檚 and women鈥檚 acute care centre in Vancouver.
Construction services will be delivered through a 50:50 joint venture between Balfour Beatty Construction and Ledcor Design Build.
Construction activity is expected to commence immediately.
In addition, Balfour Beatty Communities and Black & McDonald Limited will participate in a 50:50 joint venture to deliver facilities management services over the 30-year concession period.
Andrew McNaughton, Balfour Beatty chief executive (pictured) said: 鈥淭his is a landmark project for Balfour Beatty, our first large healthcare project in Canada, which establishes our local presence.鈥�
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