Financial and commercial close for Scottish hospital
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Highwood Health, a Laing O'Rourke-led consortium has reached financial closure for the new district general hospital for Dumfries and Galloway (UK) PPP project.
Highwood Health consortium is composed by Laing O'Rourke as construction partner, and Serco providing real estate management services.
The total project investment is estimated at £270 million (US$405.8 million). The European Investment Bank (EIB) has agreed to provide £109 million (US$163.8 million) on a 26-year loan for the new hospital.
The new 350-bed acute district general hospital will be constructed on a site at Garroch Loaning, Dumfries. This will be delivered under the Scottish Government's Non-Profit Distributing model which is the form of public-private partnership preferred by the Scottish Government.
The project will be developed on a design, build, finance and maintenance basis. The contract period is 27 years (from the award of the contract).
The new facilities are expected to be operational by the end of 2017.
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