Banks' worries hit PFI hospitals
Article Abstract:
Funding arrangements worth up to 170 million pounds sterling for Swindon, Chesham and Amersham and Bishop Auckland general hospitals are being delayed because banks feel that NHS trusts may not be able to meet their covenants. They point out that investors will have to fund building work but will not gain any revenue from the trust until the hospital opens, and that the trust is unable to guarantee that another hospital will not be constructed nearby. Discussions are now being held between banks and the Treasury and the Private Finance Panel about the credit status of NHS trusts.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1996
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A healthy new approach
Article Abstract:
Considerable problems arose with procurement procedures for the first round of Private Finance Initiative (PFI) hospital deals in the UK. For this reason, the Dept of Health is now to establish strict regulations regarding the PFI agreements that client National Health Service trusts can reach. The success of this new approach will be judged by the outcome of the 60 million pounds sterling development of Wordsley Hospital in Dudley, England, to be advertised soon, and a 38 million pounds sterling scheme at Isleworth, England, which has already been advertised.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1998
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Majors in showdown over PFI bid costs
Article Abstract:
The Major Contractors Group is to meet with the UK government to voice the concerns of leading contractors about plans by the government to have two consortia working on private finance initiative (PFI) health bids until financial close. Contractors believe that this approach will cause the losing bidder to incur additional costs of as much as 600,000 pounds sterling. They are calling on Health Minister John Denham to introduce a reimbursement system. The Dept of Health believes that the new regulations will make PFI schemes more competitive.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1999
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