The Stockholm County Council Assembly in Sweden has awarded a public-private partnership (PPP) contract to Swedish construction company Skanska and British investment fund Innisfree to build the New Karolinska Solna University Hospital (NKS).

The PPP deal includes facility management for the operation of the property until 2040, with the option of extending it for a further 15 years.

The new university hospital will cost SKr14.5bn ($1.9bn) to build and will provide healthcare, research and education in close collaboration with Karolinska Institutet, the medical university, as well as other universities and the life science industry in Sweden and abroad.

As well as constructing the new ultra-modern university hospital, the County Council Assembly has decided on the first step towards a new operational strategy at the facility.

Construction of the hospital will start during summer 2010 and is expected to be operational by December 2015.