Balfour Beatty has reached financial close on a £311m PPP hospital project in West Yorkshire.

The contractor will invest up to £15m of equity in the Pinderfields and Pontefract Hospitals development project.

Balfour Beatty and Haden Young, its building services arm, will build the hospitals. The Pinderfields in-patient hospital in Wakefield is expected to open in 2009 and a diagnostic and treatment centre will open in Pontefract in 2010.

Multiplex has also reached financial close on the long-delayed £340m Peterborough Hospitals PFI. It is made up of a 612-bed acute hospital, a 102-bed mental health unit and an integrated care unit.