As has been confirmed by reports, a joint venture of Carillion has been awarded a whopping 157 Million Pounds contract to oversee the designing, building, financing and maintenance of Phase 1b of Toronto's Centre for Addiction and Mental Health.

"We are delighted to have achieved financial close on this major project, which further reinforces our leading position in the PPP market in Canada, particularly in the health sector, where we have established a very strong track record", said Chief Executive John McDonough.

As per the deal, the existing structure will be pulled down by the support services and construction firm’s Carillion Health Solutions venture and as many as 3 new and state-of--the-art buildings will be constructed in its place.

The project is set to start early next year, and the complete construction is scheduled to finish by 2012.

The complete project will be delivered using an Alternative Financing and Procurement model, which is the Canadian equivalent of a PPP or a Public Private Partnership.