23rd Aug 2006 07:01
Balfour Beatty PLC23 August 2006 23 August 2006 BALFOUR BEATTY AWARDED £180 MILLION CONSTRUCTION CONTRACT ========================================================= AS NEW VICTORIA AND STOBHILL HOSPITALS PROJECT =============================================== REACHES FINANCIAL CLOSE ======================== Balfour Beatty the international engineering, construction and services groupannounces today that its subsidiary Balfour Beatty Construction (BBCL), throughan alliance with the specialist developer Canmore Partnership Ltd, has securedfinancial close on the new Victoria & Stobhill Hospitals project in Glasgow. BBCL will be responsible for the £180m contract to design and construct the newhospitals which will be built in close proximity to existing healthcare facilities: one to be located on the Stobhill Hospital Campus in the north ofGlasgow and the other, adjacent to the Victoria Infirmary on the south side ofthe city. Commenting today, Balfour Beatty's Chief Executive Ian Tyler said: "Balfour Beatty is delighted to have reached this landmark stage in partnershipwith both Canmore and NHS Greater Glasgow & Clyde and now looks forward todelivering two brand new hospitals that will significantly enhance acutehospital care throughout Glasgow. "We have a long tradition of delivering successful healthcare projects inGlasgow and this is the third healthcare project we have secured in partnershipwith Canmore." The facilities, which are scheduled for completion in Spring 2009 form Phase 1of NHS Greater Glasgow & Clyde's hospital modernisation programme which willradically improve healthcare facilities across the city. Each hospital will beequipped with day-care operating theatres, imaging treatment facilities,Endoscopy and Dialysis units together with MRI equipment, which will be at theforefront of diagnostic treatment provision. The PFI concession which is for 33 years will be operated by a special purposecompany owned by Canmore Partnership Ltd, Barclays Private Equity, UMEInvestments and The PFI Infrastructure Company. In Glasgow, Balfour Beatty is currently constructing the new mental healthsecure care centre on the Stobhill site (Rowanbank Clinic) and is alsocontributing to the city's position at the forefront of cancer research throughthe construction of the new Beatson Institute facility at Garscube. ENDS Enquiries to:- Tim Sharp, Director of Corporate CommunicationsTel: 020 7216 6884www.balfour.beatty.com Notes to Editors 1. Balfour Beatty Construction, has annual revenues of over £600 million and is a leading specialist in major public building works. Amongst its current project portfolio is the £125 million Blackburn Hospital, the £553 million Birmingham Hospital and schools schemes in Stoke, Rotherham, Bassetlaw, Birmingham and North Lanarkshire with a combined capital value of over £500 million. 2. Balfour Beatty is the PFI concession holder for five major acute hospitals, namely, the University Hospital, North Durham, the Edinburgh Royal Infirmary, University College London Hospital, Queens Park Hospital Blackburn, and Birmingham New Hospital. It is also preferred bidder for the schemes at Pinderfields and Pontefract in Yorkshire and the Northern Batch project in Manchester. 3. In the Glasgow schools sector, BBCL is currently carrying out the design and construction contracts for new primary schools for Glasgow City Council. 4. In support of the private sector in Glasgow BBCL are prominent in the city's International Financial Services District where we are on our third consecutive contract for developers Wilson Bowden, the design and construction of a new office block at Atlantic Quay whilst at the same time work progresses on the redevelopment of 110 St Vincent Street for the Scarborough Property Group, a landmark heritage building. 5. Balfour Beatty is a world class engineering, construction service group which works in partnership with a sophisticated customer who require the highest levels of quality, safety and technical expertise and for whom organisation, quality, efficiency and reliability are critical. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour Beatty