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鈥檚 Forensic Services and Coroner鈥檚 Complex (FSCC) in Canada.
The project, which is expected to generate 拢306m of turnover for the company, will be delivered using an 鈥渁lternative financing and procurement鈥� model, which is similar to the UK鈥檚 public-private partnership model. As well as arranging debt finance to meet the costs of construction, Carillion will invest 拢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鈥檚 Centre of Forensic Sciences and its Office of the Chief Coroner, which includes forensic laboratories, offices, autopsy suites, and two courtrooms for coroner鈥檚 inquests. The 30-month construction period will begin on site in August 2010.
Chief executive John McDonough said: 鈥淲e 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.鈥�
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