Skanska appointed preferred bidder for the New Papworth Hospital in Cambridge, UK
Skanska has been appointed preferred bidder for the New Papworth Hospital project by the client, the Papworth Hospital NHS Foundation Trust. The PPP-contract includes design, build, finance, operations and maintenance responsibilities. Skanska will announce its investment in the project at financial close, which is expected to be reached in early 2015.
The project is expected to be financed using debt and equity. Skanska’s share of the equity investment will be 50 percent and Equitix will commit the remaining 50 percent. The total amount of the contract for construction and design is in the region of GBP 140 M, about SEK 1.5 billion. No order bookings or investments will be accounted for until financial close, which is expected in early 2015.
The consortium consists of Skanska together with OCS, who will provide soft facilities management services. Construction is expected to start in the first half of 2015, with estimated completion in summer 2017.
Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.