As part of the Affinity Partnerships consortium, Balfour Beatty Investments will invest up to £8.9m into the project, which represents 70% of the equity required, with Ledcor Developments investing the remaining equity. Balfour Beatty was announced as preferred bidder in January.
The project will be carried out under a public-private partnership. The scope covers the design, construction, financing and facilities management for thenew 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.
In addition, Balfour Beatty Communities and Black & McDonald will participate in a 50:50 joint venture to deliver facilities management services over the 30-year concession period.
Balfour Beatty CEO Andrew McNaughton said: “This is a landmark project for Balfour Beatty, our first large healthcare project in Canada, which establishes our local presence. We are delighted to be working with the Provincial Health Services Authority to deliver and manage this world class acute care centre.”