A Carillion joint venture has achieved financial close on the Southmead Hospital PPP project in Bristol.
Carillion will deliver £430m of construction services and £170m of facilities management and maintenance services for the new 800-bed acute hospital, as well as investing £50 million of equity.
The contract runs for 30 years.
Carillion has designed a state-of-the-art building, which it claims will be the most sustainable major acute hospital in the UK, with low energy utilisation and a carbon footprint below the government target of 3.43Te CO2 a year and a BREEAM rating of excellent.
The new hospital, which includes an integrated 28-bed community hospital, will concentrate acute services currently provided at Southmead and Frenchay hospitals on to a single site at Southmead in North Bristol.
Advanced construction work started in August last year, with the hospital due to open in early 2014. Carillion will also provide a fully landscaped site after removing the existing outdated buildings.