John Laing shortlisted for Australian hospital re-development and expansion project
John Laing Group plc ("John Laing" or the “Group"), the responsible investor and active manager of infrastructure projects internationally, is pleased to announce that it has been shortlisted for the re-development and expansion project of the existing Frankston Hospital in Victoria, Australia (the “Project”).
The Project is a response to the increasing demand for high-quality medical services driven by a growing and ageing population within the Frankston and Mornington Peninsula community. The modernised and expanded Frankston Hospital will benefit from a new multi-level clinical services tower, additional beds and operating theatres and improved women's, paediatric, mental health and oncology services.
The Project will be delivered as an availability-based Public Private Partnership (“PPP”) with the State of Victoria and has an estimated capital cost of AUD562 million. Up to 1,700 jobs are expected to be created during construction as well as additional employment opportunities once the re-developed hospital is fully operational.
John Laing is leading the Pulse Health Partnership consortium, which includes global partners BESIX Watpac and Serco with whom the Group has successfully delivered PPP projects across Europe, Australia and New Zealand. The Pulse Health Partnership is one of three shortlisted teams selected to respond to the Request For Proposal (“RFP”), with confirmation of the successful party expected in late 2021. If successful, John Laing will act as lead sponsor, active equity investor and SPV manager.
Justin Bailey, John Laing’s Co-Head of PPP & Greenfield Projects, said:
“John Laing is very pleased to have been shortlisted for the re-development of Frankston Hospital, alongside two of our key global partners. A bigger and better Frankston Hospital will improve access for people living locally, reduce waiting times, provide an improved experience for patients and staff, and help deliver improved health outcomes. We look forward to developing our proposal and demonstrating the strength of our team to the State of Victoria and Peninsula Health during the next phase of the project.”