Carillion has reached financial close on the £335m Royal Liverpool University Hospital, its sixteenth PPP hospital in the UK.
The company is investing £15.5m equity in the project as part of a private finance initiative, which will also see Scottish Widows Investment Partnership contributing a similar amount.
Carillion expects to generate £200m from its investment over the 30-year concession period. It will also deliver non-clinical support services worth around £100m over this time.
Construction work will start early next year, and the hospital is due for completion in 2017. The project is expected to create the equivalent of 750 full-time jobs and contribute £240m to the local economy.
Carillion is committing to source at least 60 per cent of construction materials locally. It also expects to employ fifteen per cent of its workforce from within priority wards in Liverpool, and to create 100 apprenticeships.
The company was announced as the preferred bidder for the project in May, beating a consortium of Interserve, John Laing and FCC to the contract.
By December last year the start date had become July 2013 at the earliest, with completion still expected for the end of 2016.
The new hospital, which will be built next to the existing facility to the east of Liverpool city centre, will boast several innovations. It will be the largest fully single-bed hospital in the UK, with 646 beds, including a 46-bed critical care unit.
The hospital complex will feature an underground car park, access to the site for buses, a dedicated cycle centre, and ten electric car charging points.
The original hospital will be demolished once services have been transferred. It is planned the site of the old hospital will be used to build new facilities for Liverpool BioCampus.
Carillion chief executive, Richard Howson, said: “We are delighted to have achieved financial close on this exciting new hospital, which will be our sixteenth PPP hospital in the UK. We look forward to working in partnership with the Royal Liverpool and Broadgreen University Hospitals NHS Trust to deliver a state-of-the-art hospital that will bring substantial benefits to the people of Liverpool.”