17th Jan 2007 07:00
Balfour Beatty PLC17 January 2007 17 January 2007 BALFOUR BEATTY SELECTED AS PREFERRED BIDDER FOR =============================================== £152 MILLION PPP HOSPITAL IN FIFE ================================= Further addition to the Group's significant PPP healthcare portfolio -------------------------------------------------------------------- Balfour Beatty, the international engineering, construction and services group,announces today that Consort, its specialist PPP healthcare subsidiary, has beenselected as preferred bidder for the £152 million Fife General Hospital andMaternity Services PPP project by NHS Fife. Under the 30-year concession, Consort will provide a new wing to VictoriaHospital in Kirkcaldy, including 11 operating theatres, an emergency carecentre, 13 wards, surgical and medical assessment units, a maternity unit, awomen and children's unit, day intervention, critical care, coronary care andrenal and dialysis facilities. The chosen location of the new wing will minimise disruption to the existinghospital and facilitate the transfer of patients to the new facilities when theyare completed. Commenting on the appointment today, Balfour Beatty Chief Executive, Ian Tyler,said: "This project presents an opportunity to transform healthcare delivery in Fife.We believe that our design, developed in full consultation with NHS Fife'sproject team and healthcare professionals, will create a first-class, efficientfacility with an improved environment for patients and staff that will also makea high-quality addition to the local built environment. We look forward todelivering the expertise gained in working on a wide range of other healthcarePPP projects to the benefit of the people of Fife." NHS Fife Chairman, Professor Jim McGoldrick said: "The selection of Consort as the preferred bidder is a key step in themulti-stranded strategy for the future provision of health services in Fife. Wehave been working with local people since 2002 to develop and bring to realityour vision for future services. That vision will become a reality in 2010. "We are delighted to make this announcement today and look forward to takingthis forward with Consort who are as committed as we are to delivering modern,high quality services." The construction of the new wing at Victoria Hospital is part of the long termstrategy for the co-location of specialist in-patient and emergency services onone site. Future developments outside the PPP project include for there-configuration of services at Victoria and Queen Margaret Hospitals once thenew wing has been completed. The construction of the new wing, including all building services, will becarried out by a joint venture of Balfour Beatty Group companies, Balfour BeattyConstruction and Haden Young. The project is due for completion in 2010. The maintenance and facilities management for the scheme will be provided byHaden Building Management, another Balfour Beatty subsidiary. Balfour Beatty Capital, the Group's infrastructure investment arm, will invest£7.5 million of equity in the project, as will HSBC, its financial partner. This is Balfour Beatty's ninth major hospital scheme under the UK government'sPublic Private Partnership programme. Balfour Beatty's committed equityinvestment in healthcare is now some £110 million, including those projects atpreferred bidder stage. Balfour Beatty is a leader in the UK PPP market with well over £300 millioncommitted investment in 23 operational projects and a further six at preferredbidder stage. ENDS Enquiries to:Tim SharpTel: 020 7216 6884 www.balfourbeatty.com Notes to Editors 1. Balfour Beatty's existing PPP hospital schemes are as follows: - £90 million Durham Hospital (opened 2001)- £220 million Edinburgh Royal Infirmary (opened 2003)- £280 million University College London Hospital (Phase 1 opened 2005)- £116 million Royal Blackburn Hospital (opened 2006)- £553 Birmingham New Hospitals (under construction; due to open 2011) - £300 million Pinderfields Hospital (preferred bidder)- £120 million Salford Hospital (preferred bidder)- £60 million Tameside Hospital (preferred bidder). 2. Balfour Beatty is the construction partner to Canmore Partnership Ltd in thePPP concession for the new Victoria and Stobhill Hospitals in Glasgow. Thisproject, which began in August 2006, involves some £180 million of design andconstruction work and is due for completion in spring 2009. In Glasgow, BalfourBeatty is also building the new mental health secure unit at Stobhill and thenew Beatson Institute cancer research facility at Garscube. 3. Balfour Beatty is a world-class engineering, construction and services group,well positioned in infrastructure markets which offer significant growthpotential. Its partnerships with public and private customers generate secure,long-term income. Its financial position, with significant net cash and withstrong operating cash flows, offers continuing flexibility to add additionalcapacity and expertise to the business mix and to make appropriate investmentsin PPP/PFI and other long-term growth opportunities. It is the leading concession company and contractor in Scotland. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour Beatty