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Carillion to build third Canadian PFI hospital project

Carillion : 16 August, 2007  (New Product)
Carillion in a joint venture with partners Ellis Don and The LPF Infrastructure Fund is to build, finance and maintain the Sault Area Hospital in Ontario, Canada.
The project is expected to generate combined construction and support services revenues for Carillion of 92 million. In addition, Carillion will invest 3.5 million of equity (25 percent of the total equity investment) in the project, with this investment funded from the Carillion Group’s own resources.

Carillion, in partnership with Ellis Don, will construct the new three-storey, 289-bed acute care hospital, which will include rehabilitation, complex continuing care and radiation treatment facilities, at a capital cost of 122 million. Carillion and Ellis Don will also provide facilities management services worth some 79 million, over the course of the 30 year concession period.

Commenting on the project, Carillion chief executive, John McDonough, said: “We are delighted to have achieved financial close for this major new hospital, which will be our third private finance hospital project in Canada, and follows the successful delivery of the Royal Ottawa Hospital and the William Osler Hospital in Toronto.

“Developing our healthcare business in Canada through our ability to integrate our private finance, support services and construction skills is a key part of our strategy for growth.

“We look forward to working closely with the Sault Area Hospital to provide a state-of-the-art hospital and the high quality facilities management services necessary to support the delivery of first class healthcare.”
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