Balfour Beatty has announced today that it has been appointed preferred bidder for the £196 (C$350) million BC Children's & BC Women's Redevelopment Project by the Provincial Health Services Authority in British Columbia, Canada. Balfour Beatty will invest £9.2 (C$16.5) million into the project, which represents 70% of the equity required.

The PPP (P3) project scope covers the design, construction, financing and facilities management for a new children's and women's acute care centre in Vancouver. Construction is expected to commence in April 2014 and the new facility will be completed in June 2017.

Balfour Beatty Investments and Ledcor Developments will finance the project and construction services will be delivered through a 50:50 joint venture between Balfour Beatty Construction and Ledcor Design Build. In addition, Balfour Beatty Communities and Black & McDonald Limited will participate in a 50:50 joint venture to deliver facilities management services over the 30-year concession period.

Commenting today, Andrew McNaughton, Balfour Beatty CEO said:

"This project represents a significant win for Balfour Beatty and a demonstration of our commitment to grow our business in key markets of which Canada is one area of focus. Utilising our investment, construction and facilities management capability in North America, this is a great opportunity for the Group as a whole. We look forward to working with the Provincial Health Services Authority to provide a new world class healthcare facility for the children, women and families of the province of British Columbia."

The acute care centre will include inpatient units, an emergency department, medical imaging and procedural suites, hematology/oncology and pediatric intensive care for BC Children's Hospital. It will also include a high-risk labour and delivery suite and a new neonatal intensive care unit for BC Women's Hospital & Health Centre. The new design will emphasize the single occupant patient rooms, noise reduction features, access to natural light and views of nature, resulting in an improved healing environment.