Skanska Brings Its Largest Ever Public Private Partnership Project to the Financing Market - Investing GBP 48 M, about SEK 650 M, Which Will Secure a Construction Contract of around GBP 1 Billion, about SEK 13.6 Billion.STOCKHOLM, Sweden -- A consortium led by Skanska (STO:SKAB) and Innisfree has now signed a contract with the Barts and The London NHS Trust Barts and The London NHS Trust is an NHS Trust operating in the City of London and East London.
It runs three hospitals:
The signing of this contract enables the project to proceed towards the final stages of financing and reach financial close - which is anticipated by the end of this month. Once financial close has been achieved, the project will be included in Skanska's order bookings.
The Barts and The London PFI PFI Pay for Inclusion (web search engines)
PFI Private Finance Initiative
PFI Private Finance Initiative (UK)
PFI Prison Fellowship International
PFI Port Fuel Injection (engines) redevelopment is the UK's largest hospital project under a Public Private Partnership and will be Skanska's largest ever construction project.
The consortium project company is named Capital Hospitals and is owned by Skanska, Innisfree and Equion. The contract agreement, which lasts for 42 years, means that Skanska will:
- receive a construction contract amounting to around GBP GBP
In currencies, this is the abbreviation for the British Pound.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion, about SEK SEK
In currencies, this is the abbreviation for the Swedish Krona.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13.6 billion.
- receive a hard facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. contract which following completion of construction is valued at about GBP 7.5 million per year, about SEK 100 M.
- invest GBP 48 M (including GBP 8 M in mezzanine finance) about SEK 650 M, corresponding to a holding of 37.5 percent in the project company.
In cooperation with its investment partners, Skanska Infrastructure Development will manage Capital Hospitals.
Skanska UK will undertake the design and construction assignment on the two sites, which covers a built area of 270,000 square meters. This comprises new construction and refurbishment of some of the existing facilities; Skanska UK will also be responsible for facilities management services for the 42 year contract period. Preliminary work has begun and the first phases are scheduled to be completed by 2010. All construction will be completed by 2016. The hospitals will remain in operation during the entire construction period.
The Royal London will be the largest new hospital in the UK. St Bartholomew's will be transformed into a Cancer and Cardiac Centre of Excellence. The combined facilities will provide a total of up to 1,248 patient beds.
Barts and The London NHS Trust will continue to make all decisions on clinical management and development, with patient care provided free at the point of delivery just as it is now.
More information and images are available at:
Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2005 totaled USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 17 billion.
Skanska is a leader in the UK's Public Private Partnership (PPP (Point-to-Point Protocol) The most popular method for transporting IP packets over a serial link between the user and the ISP. Developed in 1994 by the IETF and superseding the SLIP protocol, PPP establishes the session between the user's computer and the ISP using )/Private Finance Initiative (PFI) program with a portfolio of schemes worth in excess of GBP 3.8 billion, about SEK 52 billion.
Skanska Infrastructure Development has now developed and invested (or undertaken to invest) more than GBP 90 M, about SEK 1.2 billion, in UK PFI projects, mainly hospitals and schools.
This and previous releases can also be found at www.skanska.com
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