Work on site will start next month, with completion scheduled for 2017. The new hospital will be built next to the existing hospital, which will be demolished once services have been transferred.
Carillion will invest £15.5m of equity into the project, as will Scottish Widows Investment Partnership. The contractor expects to generate £200m of revenue from its investment over the 30-year life of the concession contract. Carillion will also build the new hospital for the Royal Liverpool & Broadgreen University Hospitals NHS Trust at a capital cost of £335m and deliver non-clinical support services that are expected to be worth approximately £100m over the 30-year concession period.
Carillion was selected as preferred bidder for the contract in May 2013.
It is Carillion’s sixteenth public-private partnership (PPP) hospital in the UK.
The new Royal Liverpool hospital will be the largest all single-bed hospital in the country with 646 beds, including a 40-bed critical care unit, 18 operating theatres and one of the largest emergency departments in the northwest. There will be an underground car park, a dedicated cycle centre and 10 electric car charging points.
Some 750 people will be needed on site to build the hospital and Carillion has committed to sourcing 450 of them (60%) from the local area and more than 100 from priority council wards in the city. There are also 100 apprenticeships promised on the project.
Aidan Kehoe, chief executive of the Royal Liverpool & Broadgreen University Hospitals Trust, said: "This is a huge moment for all those who have worked so hard, for so long and we are all delighted to have achieved financial close on the new Royal. This is fantastic news for our patients, our staff and the city of Liverpool. We will have a world class hospital facility designed to provide a whole new approach to healthcare and help us to tackle some of our region's biggest health issues. The new Royal will improve the health and wealth of the city creating hundreds of construction jobs and training opportunities and paving the way for thousands of hi tech jobs on the BioCampus."
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