Contractor reaches financial close on children’s and women’s hospital

Balfour Beatty

Balfour Beatty has reached financial close on a £196m children’s and women’s hospital in British Columbia, Canada.

Balfour Beatty Investments will invest 70% of the equity required for the scheme, or up to £8.9m, as part of the Affinity Partnerships consortium.

Balfour Beatty was announced as preferred bidder in January.

The PPP project scope covers the design, construction, financing and facilities management for a new children’s and women’s acute care centre in Vancouver.

Construction services will be delivered through a 50:50 joint venture between Balfour Beatty Construction and Ledcor Design Build.

Construction activity is expected to commence immediately.

In addition, Balfour Beatty Communities and Black & McDonald Limited will participate in a 50:50 joint venture to deliver facilities management services over the 30-year concession period.

Andrew McNaughton, Balfour Beatty chief executive (pictured) said: “This is a landmark project for Balfour Beatty, our first large healthcare project in Canada, which establishes our local presence.”