Following Carillion's announcement on 2 May 2013 that it had been selected as the preferred bidder for the £335 million Royal Liverpool University Hospital project, Carillion has announced that it has achieved financial close on this project.

The new Royal will be one of the biggest construction projects in Liverpool.

Carillion will invest some £15.5 million of equity in the project, alongside Scottish Widows Investment Partnership who will invest a similar amount, and expects to generate approximately £200 million of revenue from its investment over the 30-year life of the concession contract.

Carillion will also build the new hospital for the Royal Liverpool and Broadgreen University Hospitals NHS Trust at a capital cost of some £335 million and deliver non-clinical support services that are expected to be worth approximately £100 million over the concession period.

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Work on site is due to start early in 2014, with completion scheduled for 2017.

The new hospital will be built next to the existing hospital, which will be demolished once services have been transferred.

The new hospital will be the largest all single-bed hospital in the country with 646 beds, including a 40-bed Critical Care Unit, 18 operating theatres and one of the largest emergency departments in the North West.

The new hospital will have an underground car park for patients and visitors, and buses will come onto the site, providing better and easier access to the hospital.

There will be a dedicated cycle centre and ten electric car charging points. The hospital will be one of the 'greenest' in the country, with renewable energy systems, low carbon technology, water meters and leak detection systems.

The project will also pave the way for a world class Liverpool BioCampus on the site of the current hospital, which will play a key part in transforming the area and regenerating the Knowledge Quarter of the City.

Construction of the new hospital is expected to contribute around £240 million to the local economy, creating the equivalent of some 750 full-time jobs during the construction period, with 60 per cent of these jobs going to local people. There is also a commitment to source at least 60 per cent of materials locally.

(CD/MH)