JV will design, build, finance and maintain building for Canadian city
A Carillion joint venture has won a deal to design, build, finance and maintain Toronto’s Forensic Services and Coroner’s Complex (FSCC) in Canada.
The project, which is expected to generate £306m of turnover for the company, will be delivered using an “alternative financing and procurement” model, which is similar to the UK’s public-private partnership model. As well as arranging debt finance to meet the costs of construction, Carillion will invest £11.8m of equity.
Carillion will also carry out the construction work and provide facilities management services over the 30-year concession period.
The FSCC will house Ontario’s Centre of Forensic Sciences and its Office of the Chief Coroner, which includes forensic laboratories, offices, autopsy suites, and two courtrooms for coroner’s inquests. The 30-month construction period will begin on site in August 2010.
Chief executive John McDonough said: “We are delighted to have achieved financial close on this prestigious project, which further reinforces our leading position in the PPP market for social infrastructure in Canada, where we have established a very strong track record.”
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