Friday, March 13, 2009

Quebec Ponders Bailouts

This is the McGill University Health Centre's tentative design, subject to change, of its project, as seen from St. Jacques St. Photograph by: Photo courtesy of McGill University Hospital Centre, Photo courtesy of McGill University Hospital Centre

From The Montreal Gazette:

Consortia bidding on work have trouble getting bank loans.

The Quebec government is poised to bail out the private consortia that are bidding to build and manage Montreal's two superhospitals.

Provincial Finance Minister Monique Jérôme-Forget is considering various options, including providing the private firms with a government-backed financial guarantee as they seek bank loans for the megaprojects.

The consortia are expected to submit their financing proposals by November.

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