NEW MONEY

HD, Feb 2005

NEW MONEY: Building work has begun on The Oncology Wing at St James University Hospital, Leeds, believed to be the first project in the UK to be funded using the Treasury's Credit Guarantee Facility in which the Department of Health (DoH), provides the senior debt for the project.

Although the Government has put up the money, banks are providing a facility guaranteeing repayment of the debt to the DoH and PFI specialist Catalyst Healthcare is behind the project. Project management and construction consultancy Faithful & Gould is to build the £22Om cancer centre over three years, as well as advising the bank involved over the 30-year contractThe wing will comprise 12 linear accelerator bunkers, four surgical operating theatres, ICU / HDU facilities, new wards, new haematology and histopathology laboratories, as well as provision for outpatients and research facilities.