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HICL Infrastructure commits EUR 21m to Paris-Sud University project
Listed infrastructure investor HICL Infrastructure Company announced an investment in the biology, pharmacy and chemistry department of the Paris-Sud University PPP Project on Monday.
The FTSE 250 company said it was taking an 85% ownership interest in the project, alongside Bouygues Energies & Services and Bouygues Bâtiment Grand Ouest.
It said the project would involve the design, construction, financing and maintenance of new teaching and research facilities for the university on the Saclay Plateau, near Paris.
The facilities would be built by Bouygues Bâtiment Grand Ouest, and would take around four years to complete.
HICL said the 25-year operational period would begin at the scheduled construction completion date, with facilities management services and lifecycle responsibility subcontracted to Bouygues Energies & Services.
The HICL group's total commitment to the project was up to 21m, including a shareholder loan subscription obligation payable upon construction completion.
"As a PPP, the project fits within a core target market segment within HICL's stated acquisition strategy," the board explained in its statement.
"This investment is accretive to the existing portfolio and was sourced through InfraRed's long-standing relationship with Bouygues Construction."