Carillion closes financing for Royal Liverpool hospital PFI

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Carillion closes financing for Royal Liverpool hospital PFI

Carillion has announced that it has achieved financial close on the £335 million Royal Liverpool University Hospital projectCarillion will invest some £15.5 million of equity in the project, alongside Scottish Widows Investment Partnership who will invest a similar amount. Both firms expect to generate approximately £200 million of revenue from its investment over the 30-year life of the concession contract.

European Investment Bank (EIB) will support the project with a loan totalling £90.5 million. A further £118 million of funding will be provided by the Royal Liverpool and Broadgreen University Hospitals Trust and the Department of Health.

Remaining funds will come from private lenders including Legal and General Investment Management (LGIM) Lloyds TSB and Scottish Widows Investment Group.

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.

The new hospital will have an underground car park for patients and visitors, and buses will come onto the site, providing better and easier access to the hospital.

There will be a dedicated cycle centre and ten electric car charging points. The hospital will be one of the 'greenest' in the country, with renewable energy systems, low carbon technology, water meters and leak detection systems.

The project will also pave the way for a world class Liverpool BioCampus on the site of the current hospital, which will play a key part in transforming the area and regenerating the Knowledge Quarter of the City.

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