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Infrastructure/PPP news in UK (United Kingdom)

MegaProject 1339: Carillion collapse sees second multi-million pound hospital PPP terminated in the UK

MegaProject 1339: Carillion collapse sees second multi-million pound hospital PPP terminated in the UK

🕔Sep 26, 2018

The Royal Liverpool and Broadgreen University Hospitals National Health Service (NHS) Trust has announced that its Board of Directors has decided to terminate the PPP contract to construct and maintain a new hospital in its service area.

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 KKR Global Infrastructure Investors III closes at US$7.4 billion

KKR Global Infrastructure Investors III closes at US$7.4 billion

🕔Sep 6, 2018

KKR has announced the final closing of KKR Global Infrastructure Investors III, a US$7.4 billion fund focused on pursuing global infrastructure investment opportunities with an emphasis on investments in OECD countries. KKR will be investing US$358 million in capital alongside external investors through KKR’s balance sheet and employee commitments.

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MegaProject 1307: UK health authority scraps retender of cancelled US$450 million hospital PPP

MegaProject 1307: UK health authority scraps retender of cancelled US$450 million hospital PPP

🕔Aug 3, 2018

Sandwell and West Birmingham Hospitals (SWBH) National Health Service (NHS) Trust has recommended that the Midland Metropolitan hospital, located in Smethwick, in the West Midlands region of England, be completed using public funds. The local health authority awarded a 30-year contract for the design, construction, financing and maintenance of the hospital to Carillion in August 2015.

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MegaProject 1305: Wales launches tender for US$650 million road project under new PPP model

MegaProject 1305: Wales launches tender for US$650 million road project under new PPP model

🕔Aug 1, 2018

The Welsh government has launched the tender for the A465 Heads of the Valleys dualling project. As well as the substantial investment required - GBP500 million (US$656.5 million) - this is noteworthy as the government is using a new PPP model to structure the project, the Mutual Investment Model (MIM).

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MegaProject 1298: London Borough Council scraps US$2.6 billion housing PPP

MegaProject 1298: London Borough Council scraps US$2.6 billion housing PPP

🕔Jul 20, 2018

Haringey Council has voted to scrap the Haringey Development Vehicle (HDV), a public-private partnership, in development since 2015, that entailed the construction of 6,400 homes and represented over GBP2 billion (US$2.6 billion) investment. Haringey is a borough of London, located in the north of the city.

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UK politicians urge reconsideration of PPP projects

UK politicians urge reconsideration of PPP projects

🕔Jul 13, 2018

The Public Administration and Constitutional Affairs Committee of the UK Parliament has recommended that the Treasury and the Government should not approve any further Private Finance Initiative (PFI) projects

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Ancala Partners closes second infrastructure fund at US$156 million

Ancala Partners closes second infrastructure fund at US$156 million

🕔Jul 11, 2018

Ancala Partners has achieved a first close of Ancala Infrastructure Fund II at EUR133 million (US$156.4 million). The core infrastructure fund is targeting commitments totalling EUR600 million (US$705.5 million), with further closes expected this year.

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US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

🕔Jul 10, 2018

Macquarie Infrastructure and Real Assets (MIRA) has announced the final close of Macquarie Super Core Infrastructure Fund (MSCIF) Series 1 at EUR2.5 billion (US$2.94 million), exceeding the fund's initial minimum target of EUR1.5 billion (US$1.76 million). 

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MegaProject 1287: UK to retender US$465 million hospital PPP

MegaProject 1287: UK to retender US$465 million hospital PPP

🕔Jun 26, 2018

The Treasury, the UK government department that is responsible for public finance, intends to procure a new private partner for the Midland Metropolitan hospital project. A GBP350 million (US$464.2 million) contract to build and maintain the greenfield hospital, located in the West Midlands region of England, was awarded to Carillion in 2015. This was terminated earlier this year following Carillion's liquidation in January.

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US$50 million high school PPP in Scotland reaches financial close

US$50 million high school PPP in Scotland reaches financial close

🕔Jun 21, 2018

Hub South East Scotland, a joint venture between Galliford Try, FulcrumAECOM and assorted public authorities, has achieved financial close of the Queensferry High School PPP project, located in Edinburgh.

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UK hospital PPP loses financing following Carillion collapse

UK hospital PPP loses financing following Carillion collapse

🕔Jun 14, 2018

Following the recent collapse of the leading contractor, Carillion, a group of banks engaged to fund the proposed Midland Metropolitan Hospital PPP Project in the West Midlands region of England have terminated the financing.

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Impax closes New Energy Investors III at US$420 million

Impax closes New Energy Investors III at US$420 million

🕔Jun 11, 2018

Impax Asset Management Group Plc has announced the close of its third private equity infrastructure fund at EUR357 million (US$420.1 million)Impax New Energy Investors III (NEFIII) is focussed on investments in renewable power generation and related assets in Europe.

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US$70 million PPP award kickstarts UK government's Full Fibre Network Programme

US$70 million PPP award kickstarts UK government's Full Fibre Network Programme

🕔Jun 4, 2018

West Sussex County Council has announced that CityFibre, a wholesale full-fibre network infrastructure provider based in London, has been selected to build, own and operatepure fibre network capable of gigabit broadband service to public buildings in key urban locations throughout West Sussex, which is located in the south of England.

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Bermuda insurance firms raise US$100 million for infrastructure fund

Bermuda insurance firms raise US$100 million for infrastructure fund

🕔May 31, 2018

The Bermuda Infrastructure Fund has been officially launched in a bid to improve ports, docks, roads, bridges, industrial facilities and healthcare facilities on the island, an overseas territory of the United Kingdom. Insurance firms have raised nearly US$100 million for the fund.

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Financial issues continue for bypass PPP in Scotland

Financial issues continue for bypass PPP in Scotland

🕔May 24, 2018

Following an announcement earlier this year of a GBP25 million (then US$35.07 million) exceptional charge and a GBP150 million (then US$210.42 million) capital raise to cover additional costs of the Aberdeen Western Peripheral Route PPP project, Galliford Try has announced that it is experiencing further cost pressure which is likely to increase the exceptional charge.

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MegaProject 1262: GBP175 million green bonds issued for Thames Tideway Tunnel project

MegaProject 1262: GBP175 million green bonds issued for Thames Tideway Tunnel project

🕔May 18, 2018

Tideway, whose shareholders include Allianz, Amber Infrastructure, Dalmore Capital and DIF, has issued GBP175 million (US$236.6 millon) green bonds to finance the Thames Tideway Tunnel (TTT) project, which involves the construction of a 25km sewer tunnel in London.

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UK Transport Secretary announces major rail PPP

UK Transport Secretary announces major rail PPP

🕔May 17, 2018

The head of the UK government's Department for Transport (DfT) has announced that it is taking control of the East Coast Main Line, a 632km railway connecting London to Edinburgh currently operated by private companies Stagecoach and Virgin Trains, until 2020, from which time it will be run through a public-private partnership (PPP).

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MegaProject 1259: UK government approves US$1.4 billion tunnel PPP in London

MegaProject 1259: UK government approves US$1.4 billion tunnel PPP in London

🕔May 15, 2018

The Department for Transport (DfT) of the UK government has approved the Silvertown Tunnel PPP project. This involves the construction of a 1km twin-bore road tunnel under the River Thames, connecting Silvertown, on the north bank of the river, to North Greenwich, in east London. It is estimated to cost GBP1 billion (US$1.36 billion).

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MegaProject 1256: UK Department for Transport launches market-sounding for multi-billion rail PPPs involving Heathrow Airport

MegaProject 1256: UK Department for Transport launches market-sounding for multi-billion rail PPPs involving Heathrow Airport

🕔May 9, 2018

The UK Government's Department for Transport (DfT) has published prior information notices for market sounding events for two rail projects - the Western Rail Link to Heathrow (WRLtH) and the Southern Rail Link to Heathrow (SRLtH). Heathrow is a major international airport - the second busiest in the world - located 23km west of London.

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MegaProject 1252: Ferrovial sets aside US$285 million to cover penalties for Birmingham highways PPP

MegaProject 1252: Ferrovial sets aside US$285 million to cover penalties for Birmingham highways PPP

🕔May 3, 2018

Ferrovial has announced that it is going to include an additional provision of GBP208 million (US$283.1 million) in its financial results for the first quarter of 2018, which are to be published next week, in relation to the Birmingham Highways PFI contract operated by a subsidiary of Amey Plc., a subsidiary of Ferrovial.

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