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Balfour Beatty, the international infrastructure group, announces today that it has been appointed preferred bidder for the C$350 million BC Children’s & BC Women’s Redevelopment Project by the Provincial Health Services Authority in British Columbia, Canada. Balfour Beatty will invest C$16.5 million into the project, which represents 70% of the equity required.
The PPP (P3) project scope covers the design, construction, financing and facilities management for a new children’s and women’s acute care center in Vancouver. Construction
is expected to commence in April 2014 and the new facility will be completed in June 2017.
Balfour Beatty Investments and Ledcor Developments will finance the project and construction services will be delivered through a 50:50 joint venture between Balfour Beatty Construction and Ledcor Design Build. 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.
Commenting today, Andrew McNaughton, Balfour Beatty CEO said, “This project represents a significant win for Balfour Beatty and a demonstration of our commitment to grow our business in key markets of which Canada is one area of focus. Utilizing our investment, construction and facilities management capability in North America, this is a great opportunity for the Group as a whole. We look forward to working with the Provincial Health Services Authority to provide a new world class healthcare facility for the children, women and families of the province of British Columbia.”