11th Sep 2007 07:01
Balfour Beatty PLC11 September 2007 11 September 2007 BALFOUR BEATTY REACHES FINANCIAL CLOSE FOR THE ============================================== £136 MILLION SALFORD HOSPITAL PFI PROJECT ========================================= Balfour Beatty, the international engineering, construction and services group,announces today that its specialist healthcare concession company, ConsortHealthcare, in conjunction with HSBC Infrastructure Fund Management Limited, hasreached financial close on the £136 million Salford Royal NHS Foundation TrustPFI project in Greater Manchester. The project is part of the "Northern Batch" scheme, which comprises both SalfordRoyal and a hospital in Tameside for the Tameside and Glossop Acute NHS Trustwhich is expected to reach financial close next week. Commenting on the financial close of the project Balfour Beatty Chief Executive,Ian Tyler, said: "We are delighted to have reached this significant milestone in healthcaredevelopment in Greater Manchester. We will be creating an environment designedto ensure that the Trust achieves its ambitions for the highest standards ofpatient care. Balfour Beatty is bringing to the Trust many decades of experiencein working as a key contractor in the healthcare sector and very substantialexpertise in planning, constructing and operating large PPP hospitals." Chair of Salford Royal NHS Foundation Trust, Margaret Morris, said: "The new development will see 36,000 sq metres of new accommodation andrefurbishment of existing buildings, providing vastly improved facilities forpatients, visitors and staff. We hope that patients and the wider public willlook forward to the benefits that this investment will bring such as more singlerooms, a more modern environment and improved access to wards and clinics." In Salford, Consort will redevelop and provide new buildings on the existinghospital site, under a 35-year PFI concession contract. Consort Healthcare(Salford) will procure the design, construction, operation and maintenance of anew acute hospital building, an education building and multi-storey car park, inall cases using Balfour Beatty Group companies. The construction will be carriedout by Balfour Beatty Construction, Haden Young will perform all the electricaland mechanical systems work and Haden Building Management will supply a range offacilities management services. The buildings have been planned to complementthe existing estate and combine the retained buildings within an overall sitemaster plan that will provide modern medical facilities for patients. The facilities will include an education centre, an emergency assessment unit, acritical care unit, a high dependency unit, an intestinal failure unit, newrenal, urology units, wards, diagnostic units, mortuary, and other facilities.Construction is due to commence immediately with overall completion planned forJune 2012. ENDS Enquiries to:------------- Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors:----------------- 1. Balfour Beatty is a leader in the UK PPP market with approximately£350 million committed investment in 24 operational projects and a further fiveat preferred bidder stage. 2. 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 million Birmingham New Hospitals (under construction;due to open 2011) - £311 million Pinderfields and Pontefract Hospitals (under construction; due to open 2009/10) - £136 million Salford Royal NHS Foundation Trust Hospital (due to open 2012) - £77 million Tameside Hospital (due to open 2011) - £152 million Fife Hospital (preferred bidder). 3. 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. 4. 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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