The partners join forces once again to invest in Melbourne's Victorian Comprehensive Cancer Centre
MONTREAL, Nov. 6, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec announced an investment of AU$40.5 million in the Victorian Comprehensive Cancer Centre Project (VCCC).
The AU$1.2 billion VCCC project will deliver a purpose built cancer research, treatment, care and education facility in Parkville, Melbourne, one of Australia's leading biomedical and research precincts.
"Through this investment, in addition to the five others made earlier this year with Plenary, the Caisse is strengthening its presence in Australia and is adding another quality asset to its infrastructure portfolio," said Macky Tall, Senior Vice-President, Investments, Infrastructure at the Caisse de dépôt et placement du Québec. "This investment underscores our desire to invest in promising projects and with well-established partners in order to generate stable and predictable, long-term returns for our depositors."
Plenary Group Australia Principal, John O'Rourke, said this further investment served to reinforce the growing strategic alliance between Plenary Group Australia and the Caisse. "We are particularly proud of this exceptionally designed comprehensive cancer center and the opportunity it represents for the two parties to co-invest in another significant social infrastructure project in Australia."
Construction of the Centre began at the end of 2011 and will commence services in 2016. The 1,400,000 sq. ft. facility will provide a brand new home for the Peter MacCallum Cancer Centre and new cancer research and clinical services for Melbourne Health (including the Royal Melbourne Hospital), new cancer research facilities for The University of Melbourne and new education facilities for all building partners.
The partnership agreement between Plenary Health and the State of Victoria covers the design, construction, financing and running of the VCCC facility over 25 years.
The Caisse invested another AU$139.2 million with Plenary in other projects earlier this year, including barracks for Australia's Department of Defence, a hospital in Berwick (in southeast Melbourne), police and court facilities in Southern Australia and the Melbourne Convention and Exhibition Centre.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held CA$159.0 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com
ABOUT PLENARY GROUP
Plenary Group is an independent long-term investor, developer and operator of public infrastructure, with businesses in both Australia and Canada. Plenary Group Australia has quickly grown into the largest specialist PPP business in the region, successfully achieving financial close on nine (9) PPP projects in the Australian market. Plenary Group projects in Australia have a project capitalization of over AU$5 billion. For more information: www.plenarygroup.com.
Image with caption: "The Caisse de dépôt et placement du Québec invests AU$40.5 million in the Victorian Comprehensive Cancer Centre Project (VCCC) located in Parkville, near Melbourn, Australia. (CNW Group/CAISSE DE DEPOT ET PLACEMENT DU QUEBEC)". Image available at: http://photos.newswire.ca/images/download/20121106_C5347_PHOTO_EN_20226.jpg
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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