An Equitix led consortium today submitted its Interim Submission for the Orkney Hospital NPD project in Scotland.
The Project involves a new Hospital and Healthcare Facilities, to be built on a greenfield site, on the edge of Kirkwall in the Orkney Islands. The successful bidder will form a Project Company which will fully finance the design, construction and maintenance of the facilities in accordance with the Project Agreement that it will enter into as part of the NPD revenue funded model. The NPD model caps returns to the private sector and has been successfully implemented on a number of projects in Scotland.
Equitix are one of three bidders for the Project along with Robertson and Canmore. NHS Orkney will evaluate the Interim Submissions before shortlisting two of the bidders to enter Final Submissions in August 2015. The successful bidder is then scheduled to reach Financial Close in March 2016.
In its role as financial advisor to Equitix, Operis is advising the consortium in developing the optimal financial structure of the project, running a funding competition and preparing a financial model and bid submission documents.