Bilfinger Berger reaches financial close on €340 million project in Canadian health-care sector
July 15, 2010
July 15, 2010
Public-private partnership: Bilfinger Berger reaches financial close on €340 million project in Canadian health-care sector
Bilfinger Berger has reached financial close on a further key public-private partnership in the Canadian health-care sector. The project, with an investment volume of about €340 million, comprises the design, financing, construction and operation of the new Women’s College Hospital in Toronto. The project company is wholly-owned by Bilfinger Berger Project Investments, which is making an equity investment of €27 million. The concession is for a period of 30 years.
Women’s College Hospital, which is sponsored by the Ontario Ministry of Health and Long Term Care, will be completely rebuilt at its existing location, and a new underground parking facility will be added. Demolition and new construction will be carried out while the facility remains in operation, presenting a special challenge. In order to ensure that all hospital services can stay fully functional, work will be carried out in phases stretching over a period of five years. Upon completion, 400,000 patients will be treated in the new hospital each year.
Bilfinger Berger already invests in a number of concession projects in the Canadian market. The Company finances and operates major highways and hospitals in Canada with a total volume of €2.5 billion and an equity investment of €122 million. Other important markets for the Group’s concessions business include Australia, Germany and the United Kingdom. Bilfinger Berger’s entire privately-financed portfolio now comprises 29 projects with a total investment volume of €7.6 billion and an associated equity commitment of €407 million.
