HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce a new investment in France, being the Ecole Centrale Supelec PPP Project (“Project”) in which the Group now has an 85% ownership interest.
The Project, which has a capital value of €68m, reached Financial Close on 16 February 2015 and consists of the design, construction, finance and maintenance of a new facility for the Ecole Centrale Supelec on plateau de Saclay, near Paris, as well as a shared teaching and research facility, an underground carpark and a hotel facility (the revenue from which does not form part of the Project).
The Project will be built by Bouygues Batiment Ile de France and will take approximately 2 years to complete, with an operational period of 26 years from construction completion. The FM contract will be with Bouygues Energy & Services, which will also assume the lifecycle management risk.
The total consideration for the investment is €3.4m, comprising a loan stock subscription obligation payable upon construction completion.