Bluewater Health project reaches financial close



    TORONTO, Oct. 4 /CNW/ - Infrastructure Ontario and Bluewater Health
announced that the hospital, EllisDon Corporation and its partners have
achieved financial close, which signals that all contractual steps have been
completed for the expansion and redevelopment of the Norman Site.
    With the addition of 325,000 square feet of new space, Bluewater Health
will become a larger, more modern facility housing an expanded emergency
department and a consolidated maternal infant child program which will, for
the first time, offer labour, birthing and paediatric services on one floor.
The project will also provide the space for additional acute care beds.
    The building team, led by EllisDon, also includes financing arranged by
Pacific & Western Bank of Canada.
    The deal commits EllisDon to build and finance the hospital's
redevelopment project for $214,080,286 million, which will be paid only when
construction is completed. Approximately 100 to 150 workers will be on the
site daily, and as a result of the project, hundreds of thousands of dollars
will be spent in the surrounding communities on labour and purchasing
construction and other related supplies.
    A Value for Money (VFM) report on the project will be posted on
Infrastructure Ontario's website, along with the project agreement, within
weeks. This third-party VFM assessment identifies the benefits or value
derived on this project as compared to a traditional procurement approach. The
VFM report will provide a summary of estimated total project costs including
the fixed cost of the contract with EllisDon, equipment and other ancillary
costs.
    Construction is expected to be completed in 2011.
    This project is guided by principles outlined in the province's Building
a Better Tomorrow framework, which ensures public ownership of core assets
such as hospitals, schools, and water and wastewater facilities.

    Visit www.infrastructureontario.ca for more information.

    Disponible en français





For further information:

For further information: Mary Lowe, Infrastructure Ontario, (416)
325-4856; Toni Adey, Bluewater Health, (519) 464-4452


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