An artist's conception of the MUHC trauma centre. Quebec Finance Minister Raymond Bachand has earmarked $42 million in funding for the McGill University Health Centre. Photograph by: Handout, The Gazette
Province On The Hook For Up To $1 Billion -- The Montreal Gazette
Advance for superhospitals: Private sector can only raise 55 per cent of cost.
The provincial government will advance as much as $1 billion to the private consortia that will build Montreal's two superhospitals, The Gazette has learned.
Initially, the private consortia were supposed to borrow all the money to construct and maintain the future hospitals of the McGill University Health Centre and the Centre hospitalier de l'Université de Montréal.
The advantage to the government was that it would assume zero financial risk. But now, Quebec will borrow 45 per cent of the construction cost of the two hospitals because the consortia cannot raise all the financing.
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My Comment: When this is all over .... add another billion or two.