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As a result, the NHS trust sought direct government funding, [16] and on 16 August 2018, the government announced it would fund completion of the hospital. [17] In November 2018, it was reported that the NHS trust was struggling to find a contractor to complete the hospital, with the possibility that the hospital might be delayed beyond 2022. [18]
PFI contracts are typically for 25–30 years (depending on the type of project); although contracts less than 20 years or more than 40 years exist, they are considerably less common. [8] During the period of the contract the consortium will provide certain services, which were previously provided by the public sector.
Another controversy was the long term cost of the private finance initiative (pfi) deal to build the hospital: In 2019 it was revealed that University Hospitals Coventry and Warwickshire NHS Trust paid 12.5% of their income per year to the contractor, and that by the end of the contract, they would have spent an estimated £3.7 billion, almost ...
The Norfolk and Norwich University Hospitals NHS Foundation Trust pays the private PFI Octagon consortium in the region of £41 million a year. [4] In 2004, the Association of Chartered Certified Accountants assessed the actual costs at £1.16 billion, or around five times the initial cost of £229 million.
The Trust has a substantial PFI scheme. The £265 million scheme which will run for 30 years covers new buildings, refurbishments, facilities, services, equipment and capital investment equipment costs and will run until March 2043. The partners to the scheme are Innisfree Ltd, Skanska, and Medirest. [2]
The hospital was procured under a Private Finance Initiative contract in 2007 to replace Peterborough District Hospital and the Edith Cavell Hospital.It was designed by Nightingale Associates and built on the site of the Edith Cavell Hospital by Multiplex at a cost of £340 million and opened to patients in November 2010. [1]
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