17th Jun 2014 07:08
LONDON (Alliance News) - Balfour Beatty PLC Tuesday said its joint venture has been named "selected bidder" for two new acute care hospitals in Vancouver, British Columbia continuing its move into the Canadian healthcare market.
In a statement, the construction company said that the 30-year public-private partnership on behalf of the Vancouver Island Health Authority will cover the financing, design, construction, and facilities management for the Campbell River Hospital and Comox Valley Hospital.
Balfour Beatty said it is expected to invest CAD17.2 million into the project, representing half of the equity required. Its joint venture partner Graham Group Ltd will undertake the construction, and Balfour Beatty will be responsible for the delivery of soft facilities management services. The joint venture is currently working with the Vancouver Island Health Authority to finalise financing and other aspects of the project.
The news comes on the back of an announcement in April in which Balfour Beatty said that, as part of the Affinity Partnerships consortium, it had reached financial close on the CAD350.0 million BC Children's & BC Women's Redevelopment Project in British Columbia, Canada.
"The Canadian healthcare market is a new and growing market for us and we are very pleased to be the selected bidder for our second project there this year," Executive Chairman Steve Marshall said in a statement.
"The potential of the North America market is substantial and this latest project is further evidence of how we are combining our financing, development and construction expertise to deliver great value to our clients," Marshall added.
Balfour Beatty shares were up 0.3% at 234.50 pence at the open Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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