Construction News

Thu March 04 2021

Related Information

Balfour Beatty picked for second Vancouver hospital

17 Jun 14 A Balfour Beatty joint venture has been named selected bidder for two new acute care hospitals in Vancouver, British Columbia, Canada.

the new Cambell River Hospital
the new Cambell River Hospital

It is the company’s second major healthcare development won in the region this year.

Its joint venture partner Graham Group will undertake the construction and Balfour Beatty will be responsible for the delivery of soft facilities management services.

The 30-year PPP project on behalf of the Vancouver Island Health Authority will cover the financing, design, construction, and facilities management for the Campbell River Hospital and Comox Valley Hospital. Balfour Beatty is expected to invest CA$17.2m (£9.3m) into the project, which represents 50% of the equity required.

The joint venture is currently working with the Vancouver Island Health Authority to finalise financing and other aspects of the project.

In April 2014, Balfour Beatty announced that, as part of the Affinity Partnerships consortium, Balfour Beatty Investments had reached financial close on the CA$350m (£196m) BC Children’s & BC Women’s Redevelopment Project (Phase 2) and would be providing finance, construction and facilities management services.

Balfour Beatty executive chairman Steve Marshall said: “The Canadian healthcare market is a new and growing market for us and we are very pleased to be the selected bidder for our second project there this year. The potential of the North America market is substantial and this latest project is further evidence of how we are combining our financing, development and construction expertise to deliver great value to our clients. We look forward to working closely with the Vancouver Island Health Authority and our joint ventures partners in finalising the financing arrangements and commencing construction.”

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view more construction news »