16th Nov 2005 07:01
Balfour Beatty PLC16 November 2005 16 November 2005 BALFOUR BEATTY APPOINTED PREFERRED BIDDER FOR £190 MILLION NORTHERN BATCHED HOSPITALS PFI PROJECTS ======================================= Balfour Beatty, the international engineering, construction and services group,announces today that its specialist healthcare concession company, ConsortHealthcare, has been appointed preferred bidder for the £190 million NorthernBatched Hospitals project in Greater Manchester. The project comprises two hospital development schemes. In Salford, Consort willredevelop and provide new buildings for Hope Hospital under a 34-year PFIconcession contract with a capital value of £130 million. In Tameside, Consortwill design and build a new acute and mental health facility at Tameside GeneralHospital under a concession contract worth £60 million. It is anticipated that financial close for the schemes will be achieved in early2007. Commenting on the award today, Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have been selected to create first-class healthcarefacilities for the people of Salford and Tameside and for the staff in thefacilities which serve them. These will be our seventh and eighth major PFIhospital schemes. We have proven skills and a first-class track record in thisspecialist area and are now a clear leader in the field." In Salford, a number of new buildings will be constructed, including aneducation centre, an emergency department extension, an assessment unit, acritical care unit, a heart care unit, an intestinal failure unit, new renal andurology units and residential accommodation for hospital staff. In Tameside, a number of new buildings will be constructed, including a newmental health unit for the elderly, a ward block, a day surgery and an endoscopyunit and extensions to theatres, radiology, diagnostic and treatment centres. Balfour Beatty now has eight major PFI hospital schemes. New hospitals inEdinburgh, Durham and at University College London (UCLH) are now operational.UCLH Phase I was officially opened by Her Majesty The Queen on Thursday 20October. The new Blackburn Hospital is due to open in the summer of 2006.Financial close on the new £521 million Birmingham Hospital is expected in thenear future. A revised plan for the £250 million scheme at Pinderfields inYorkshire was recently approved, with financial close anticipated during 2006. In total, the eight schemes represent Balfour Beatty equity investment of some£90 million. Earlier this year, Balfour Beatty Construction was appointed preferred bidder,through concession company, Canmore, for the construction work on the £160million project to create two new Ambulatory Care and Diagnostic Centres atStobhill Hospital and Victoria Infirmary in Glasgow. ENDS Enquires to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Consort Healthcare is a committed and experienced provider of serviced healthcare accommodation under the UK Private Finance Initiative. 2. It delivers and maintains healthcare assets, principally through the use of Balfour Beatty Group companies: - Balfour Beatty Construction : construction planning and execution - Haden Young and Balfour Kilpatrick : electrical and mechanical services - Haden Building Management : support services and facilities management. 3. Balfour Beatty's approach to PFI healthcare projects provides: - continuity and efficiency through all phases of the project - rapid progress on financial arrangements - competitively priced bids - long-term commitment - strength and depth of expertise from one source. 4. Balfour Beatty is a world-class engineering, construction and services group, well positioned in infrastructure markets which offer significant growth potential. Its partnerships with public and private customers generate secure, sustainable income. Its financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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