News
Construction has begun on a new acute hospital for Enniskillen after investment of £270 million was secured with the building consortium.
The project is due for completion by 2012 and will provide jobs for 850 workers, including 180 jobs during construction.
The scheme, which is Northern Ireland’s first major acute hospital funded through a PFI arrangement, features the Bank of Ireland’s corporate banking arm as a major lender.
Bank of Ireland is one of several Mandated Lead Arrangers, with the others Nord LB, Barclays Bank, and the European Investment Bank. Members of the Northern Ireland Health Group consortium include Interserve Investments, FCC Construction, P Elliott, and Allied Irish Bank.
Michael McGimpsey, Northern Ireland Assembly Health Minister, witnessed the signing of the contract between the consortium and the Western Health and Social Care Trust.
“With the current economic climate and the downturn in the construction industry, it is important to note that this project will provide 850 jobs, of which 180 will be new jobs, during construction. [It] is a significant boost for the local economy,” commented Mr McGimpsey.
“This is a major step in the process of bringing a new state of the art hospital to the people of the South West,” he added.
The Bank of Ireland’s MD, Adrian Olsen, who is also Head of Global Project Finance, reaffirmed the company’s dedication to PFI schemes and gave his full backing for the Enniskillen project.
“Completion of the financing package for Enniskillen Hospital once again demonstrates Bank of Ireland’s commitment to PFI and PPP projects in the UK and Ireland,” explained Mr Olsen.
Upon completion of the new hospital there will be seven university placements and thirty-two trade apprenticeships created.
