Re Contract

RNS Number : 5163E

Carillion PLC

22 December 2009

 

22 December 2009

Carillion awarded £157m Public Private Partnership project for the Centre for Addiction and Mental Health in Toronto

A Carillion Joint Venture, Carillion Health Solutions, has been selected to design, build, finance and maintain Phase 1b of Toronto's Centre for Addiction and Mental Health (CAMH). 

This phase of the CAMH redevelopment includes the demolition of the existing administration building and the construction of three, new state-of-the-art buildings: the CAMH Gateway Building, the Intergenerational Wellness Centre and the Utilities and Parking Building.  Demolition will begin in early 2010 and completion of the new buildings is scheduled for 2012.

The project will be delivered using an Alternative Financing and Procurement (AFP) model, which is similar to the UK's Public Private Partnership model.   As well as arranging debt finance to meet the costs of construction, Carillion will also invest £7 million of equity in the project. 

Carillion will also carry out the construction work and provide maintenance and life-cycle repair services over the 30-year concession period that together are expected to generate £157 million of revenue for Carillion.  

Chief Executive John McDonough said: "We are delighted to have achieved financial close on this major project, which further reinforces our leading position in the PPP market in Canada, particularly in the health sector, where we have established a very strong track record. We look forward to working with the Centre for Addiction and Mental Health to provide Toronto with a new state-of-the-art healthcare facility." 

Carillion is one of the leading providers of privately financed healthcare facilities in Canada. In addition to the CAMH project, Carillion is currently building and financing the Sault Area Hospital and the Royal Victoria Hospital in Barrie, having successfully delivered two of the first major Public Private Partnership hospitals in Canada - the New William Osler Hospital in Toronto and the Royal Ottawa Hospital.

For further information 

John Denning Director Group Corporate Affairs              [phone]

Finsbury 

James Murgatroyd                                                     [phone]

Gordon Simpson                      

Notes to Editors

Carillion is the UK's leading support services company with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities.  The Group has annual revenue of over £5 billion, employs around 50,000 people and operates across the UK, in the Middle East, Canada and the Caribbean. 

In the UK, Carillion's principal market sectors are Defence, Education, Health, Facilities Management & Services, Rail, Roads, Building, Civil Engineering and Utilities Services.

In the Middle East, Carillion's principal market sectors are Construction and Facilities Management. In Canada and the Caribbean, the Group's main sectors are Health, Roads Maintenance and Construction.

Carillion's portfolio of equity investments in Public Private Partnership projects includes projects in the UK and Canada, particularly in the Defence, Education, Health and Transport sectors.

This and other Carillion news releases can be found at: www.carillionplc.com

 

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