Norton Rose Australia has assisted its clients Grocon Constructors and Canadian based PCL Constructors to achieve financial close as the joint venture builder for the Victorian Comprehensive Cancer Centre, a significant PPP project.
The new facility, which is due for completion at the end of 2015, will house a collaboration of cancer research and treatment organisations in the purpose built 13 level centre linked to the existing Royal Melbourne Hospital. The facility will provide comprehensive cancer research and treatment facilities in a single location.
The project is Grocon Constructors’ second PPP and is currently PCL Constructors’ only project outside of North America, where it is a leading construction company with extensive health industry experience.
The construction cost of the project is approximately A$1 billion and has a delivery timeframe of approximately four years. Other members of the successful consortium were Plenary Health (Project Sponsors), Honeywell (long term facility management services), a bank group comprising National Australia Bank Limited, Export Development Canada (the government export credit agency of Canada), Mizuho Corporate Bank Ltd, The Bank of Tokyo-Mitsubishi UFJ, United Overseas Bank Limited, BOS International (Australia) Limited, Industry Funds Management Pty Ltd, H.E.S.T Australia Limited and CARE Super Pty Ltd and equity from and arranged by Plenary Group, UniSuper Limited and Partners Group AG.
Norton Rose Australia has an established record advising PPP participants including recent projects such as the joint venture builder of the New Royal Adelaide Hospital (Hansen Yuncken and Leighton), the Ararat Prison (St Hilliers and New Zealand based Hawkins), Biosciences Research Centre (Grocon Constructors), Victorian Desalination Project (ITOCHU) and QEII Medical Centre Car Park (Probuild).
For further information please contact:
Teneille Rennick, senior communications advisor, Norton Rose Australia
Tel: +61 2 9330 8926; Mob +61 418 982 442
Samantha Magnusson, head of corporate communications, Norton Rose Australia
Tel: +61 2 9330 8138; Mob: +61 434 116 696
Notes for Editors:
Norton Rose Australia and its affiliates are members of Norton Rose Group, a leading international legal practice offering a full business law service from offices across Europe, Asia, Canada, Africa and the Middle East.