Financial close for USD1.16 billion Hospital PPP project in Australia

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Financial close for USD1.16 billion Hospital PPP project in Australia

The Plenary Health consortium has achieved financial close on the single largest health infrastructure investment in the State of Victoria, the AUD1.5 billion (USD1.16 billion) new Footscray Hospital.

The new hospital will feature more than 500 beds, enabling care for almost an additional 15,000 patients and an extra 20,000 people to be seen by the emergency department each year. It will also deliver more outpatient, palliative care and mental health services ensuring the community can access quality care closer to home.

The hospital is being delivered as a public-private partnership, with Western Health as the public operator of all clinical services and Plenary Health contracted by the Victorian Government to finance, design, construct, and maintain the hospital for 25 years following construction completion.

Equity financing is provided by Plenary (70%) and Sojitz (30%). An integrated design team is led by Cox Architecture and Billard Leece Partnership.

Debt is being provided by leading domestic and international banks NAB, Westpac, Mizuho, Norinchukin, Crédit Industriel et Commercial and Nippon Life.

Construction is expected to get underway shortly, and the new hospital is set to be completed in 2025.

List of country news

Country news

  • January 29, 2021

    Amp Capital completed refinancing of multimillion Prison PPP project in Australia

    AMP Capital has completed the refinancing of the Eastern Goldfields Regional Prison PPP Redevelopment Project (EGRP) and removed all future refinancing risk from the Project.

    Read more
  • January 25, 2021

    Shortlist for USD433 million hospital redevelopment PPP in Australia

    Victorian Health and Human Services Building Authority shortlisted three consortia to deliver the AUD562 million (USD433.7 million) Frankston Hospital redevelopment.

    Read more
  • November 16, 2020

    Multimillion Sydney Gateway PPP awarded

    Seymour Whyte, a VINCI Construction subsidiary based in Australia, in a 50:50 joint venture with John Holland, will deliver Sydney Gateway, around the Sydney Airport precinct. 

    Read more
  • October 30, 2020

    John Laing joins bidding team for waste processing megaproject in Melbourne

    John Laing Group plc has announced that it has joined a consortium short-listed to bid for the rights to develop a large-scale waste processing PPP project in Melbourne, Australia.

    Read more
  • October 26, 2020

    Refinancing completed for Eastern Distributor M1 toll road in Sydney

    Transurban has raised AUD 302 million (US$ 214.05 million) of non-recourse debt via a new bank debt facility with a tenor of 3.25 years for Eastern Distributor M1 toll road in Sydney.

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.