16th Aug 2007 07:01
Carillion PLC16 August 2007 16 August 2007 Carillion joint venture achieves financial close on third hospital project inCanada with a total value of £200 million Support services and construction company Carillion in a joint venture withpartners Ellis Don and The LPF Infrastructure Fund has reached financial closein a project to build, finance and maintain the Sault Area Hospital in Ontario,Canada. The project is expected to generate combined construction and support servicesrevenues for Carillion of £92 million. In addition, Carillion will invest £3.5million of equity (25% of the total equity investment) in the project, with thisinvestment 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, complexcontinuing care and radiation treatment facilities, at a capital cost of £122million. Carillion and Ellis Don will also provide facilities managementservices worth some £79 million, over the course of the 30 year concessionperiod. Commenting on the project, Carillion chief executive, John McDonough, said: "Weare delighted to have achieved financial close for this major new hospital,which will be our third private finance hospital project in Canada, and followsthe successful delivery of the Royal Ottawa Hospital and the William OslerHospital in Toronto. "Developing our healthcare business in Canada through our ability to integrateour private finance, support services and construction skills is a key part ofour strategy for growth. "We look forward to working closely with the Sault Area Hospital to provide astate-of-the-art hospital and the high quality facilities management servicesnecessary to support the delivery of first class healthcare." Notes to editors Construction of the new hospital will be carried out by Carillion and Ellis Donin a 30/70 partnership. Facilities management will be carried out by Carillionand Ellis Don in a 70/30 partnership. Carillion is a leading provider of integrated solutions for buildings,infrastructure and services in the UK, with well-established internationalbusinesses in the Middle East and in Canada and the Caribbean. As a FTSE 250company with annual revenue in the region of £4 billion and around 50,000employees, the Group delivers high quality, cost effective and sustainablesolutions using its wide range of skills and resources. Its key target marketsare building, defence, health, education and transport (rail and roadinfrastructure), facilities management and support services for public andprivate sector customers. For further information contact John Denning, Director Group Corporate Affairs 01902 316384 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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