Engineering, construction and services group Balfour Beatty PLC (LSE: BBY) said Consort, its specialist Public Private Partnership healthcare company, has reached financial close on the £170 million Fife General Hospital and Maternity Services PPP project for NHS Fife.
Under the 30-year concession, Consort will provide a new wing to Victoria Hospital in irkcaldy, including 11 operating theatres, an emergency care centre, 13 wards, surgical and medical assessment units, a maternity unit, a women and children’s unit, day intervention, critical care, coronary care and renal and dialysis facilities.
The new wing, which has been under construction since September 2008 under an Advanced Works Agreement, will be carried out by Balfour Beatty Construction and Haden Young. The project is due for completion in 2011.
The maintenance and facilities management for the scheme will be provided by Balfour Beatty WorkPlace.
Balfour Beatty Capital, the Group’s infrastructure investment arm, will invest £9.5 million of equity in the project, as will HSBC, its financial partner.