CBA invests in UK infrastructure project
(16 November 2004 – Australia) Commonwealth Bank has taken a 50 percent stake in the Newham University Hospital PFI project in the UK.
The investment is the first of its kind for the CBA following the announcement of a joint venture with John Laing plc in June 2004.
UK based John Laing develops, funds and operates major infrastructure projects both in the UK and overseas.
The project is a ₤35 million (A$84.5 million) redevelopment of Newham University Hospital which is due to be completed in the middle of 2006.
The bank said construction was ahead of schedule.
The Laing-CBA joint venture is currently working on a number of other bids for projects in both the UK health and European roads sectors.
UK based John Laing develops, funds and operates major infrastructure projects both in the UK and overseas.
The project is a ₤35 million (A$84.5 million) redevelopment of Newham University Hospital which is due to be completed in the middle of 2006.
The bank said construction was ahead of schedule.
The Laing-CBA joint venture is currently working on a number of other bids for projects in both the UK health and European roads sectors.
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