West Midlands-based construction giant Carillion has landed a £335 million project to upgrade the Royal Liverpool University Hospital.
Carillion will invest some £15.5 million of equity in the PFI project, alongside Scottish Widows Investment Partnership who will invest a similar amount, and expects to generate approximately £200 million of revenue from its investment over the 30-year life of the concession contract.
Carillion will also build the new hospital for the Royal Liverpool and Broadgreen University Hospitals NHS Trust at a capital cost of some £335 million and deliver non-clinical support services that are expected to be worth approximately £100 million over the concession period.
Work on site is due to start early in the new year, with completion scheduled for 2017. The new hospital will be built next to the existing hospital, which will be demolished once services have been transferred. The new hospital will be the largest all single-bed hospital in the country with 646 beds, including a 40-bed Critical Care Unit, 18 operating theatres and one of the largest emergency departments in the North West.
Construction of the new hospital is expected to contribute around £240 million to the local economy, creating the equivalent of 750 full-time jobs during the construction period.
Carillion chief executive, Richard Howson, said: “We are delighted to have achieved financial close on this exciting new hospital. We look forward to working in partnership with the Royal Liverpool and Broadgreen University Hospitals NHS Trust.”