Laing O'Rourke Joint Venture Reaches Financial Close on CHUM Hospital Complex in Montreal, Canada

LONDON, June 13, 2011 /PRNewswire/ --

CHUM Collectif, a joint venture formed by Laing O'Rourke, Obrascón, Huarte Lain S.A. (OHL), Innisfree, and Dalkia Canada, has reached financial close on one of the world's largest current healthcare projects, valued at around C$2.1billion.

The joint venture is now responsible for a design, build, finance and maintain project which includes a new build 21-storey hospital. This forms a key part of the Centre Hospitalier de L'Universite de Montreal ("CHUM") modernisation program aimed at consolidating the activities of the CHUM in one location.

The new hospital will cover 225,000m2 of floor space and deliver 772 single-bed rooms, together with a new energy centre. The project also includes a 30-year maintenance concession. The first phase of the new hospital is due for completion in 2016.

All of the joint venture partners are investors in the project through a special purpose private finance entity, with Laing O'Rourke and OHL responsible for the design and build of the new hospital.  Dalkia Canada will be the facilities management provider and HCP Social Infrastructure Canada is acting as project manager.

Roger Robinson, CEO, Canada, Europe and Middle East, Laing O'Rourke,

"Having made the strategic decision to enter the Canadian market, Laing O'Rourke is delighted that the CHUM Collectif has reached financial close on this prestigious project.

"Our task is now to utilise our consortium's global expertise in high quality healthcare infrastructure projects to deliver CHUM's vision of 'a facility which focuses on patient-centred care and values innovation, in professional, technological and organisational practices'.

Key advisers to the joint venture are: Investec (finance), Blakes (Legal), Cannon Design and DCYSA (architects) and HH Angus & Associates (mechanical & electrical).

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