Carillion wins £306m public private partnership project

24th Jun 2010 08:37

Carillion has been awarded a £306m Public Private Partnership project for Toronto's Forensic Services and Coroner's Complex (FSCC). The project 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 in the project. Carillion will also carry out the construction work and provide facility management and life-cycle repair services over the 30-year concession period that together are expected to generate £306m of revenue for the group. 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.""We look forward to working with Ontario's Ministry of Community Safety and Correctional Services and its stakeholders to provide Ontario with one of the most modern facilities of this kind in the world."