Recovery, Rehabilitation and Community-Based Support
In September 2011, an SNC-Lavalin-led joint venture was awarded the first ever public-private partnership (P3) in New Brunswick’s health sector. The joint venture is designing, building, financing, and will provide certain operation and maintenance functions for the new Restigouche Hospital Centre for psychiatric care. Focusing on recovery, rehabilitation and community-based support, Restigouche will have 140 beds in seven in-patient units, with facilities for education and research, clinical support, as well as administration and general support services. The hospital will also serve as the forensic psychiatry facility for the entire province.
Capitalizing Important Social Infrastructure
Restigouche is a major P3 project that was financed during challenging economic conditions. SNC-Lavalin’s Infrastructure Concessions Investments (ICI) business unit, the lead on Restigouche, arranged financing for the project following the 2008 economic crisis. Thanks to ICI, the project was successfully capitalized despite liquidity constraints and the need on the part of lenders and credit agencies for additional due diligence.
The refinancing of the project debt in 2013 was another testament to the financial market’s confidence in SNC-Lavalin’s infrastructure projects. The new debt instruments (short- and long-term bonds) provide fresh working capital to fund current operations and securely capitalize the next phase of this important social infrastructure project.
Full Life-Cycle Services
We will provide full life cycle services to allow the hospital infrastructure project, now under construction, to meet Leadership in Energy and Environmental Design (LEED) Silver specifications.
SNC-Lavalin Operations & Maintenance will provide the operation and maintenance activities for the hospital centre over 30 years. As a result, extensive lifecycle planning and design approaches to delivering Restigouche were undertaken.