1.2 The PFI contract between the Trust and THC Dartford, the first PFI hospital contract to be finalised, was let in July 1997 at an expected net present cost to the Trust of £171 million for the construction of the building and services over the minimum 28 year contract period at 1996 prices. In cash terms this was equivalent to £743 million (Appendix 3).
1.3 The contract required completion of the hospital by September 2000. Construction of the hospital commenced in August 1997 and was completed by July 2000 when the hospital started to become operational. The Trust started paying for the hospital from September 2000 when it became fully operational. The Trust estimates that being able to make early use of the hospital before it was obliged to make payments produced a benefit of around £2 million.
1.4 The 400 bed new hospital replaced, on one new site at Darenth Park, under-maintained old facilities which had previously been on three sites in the Dartford and Gravesend areas.