HICL Infrastructure unveils new French PPP investment

17th Feb 2015 07:13

HICL Infrastructure Company (HICL) has bought an 85% ownership interest in a Paris public-private partnership (PPP) project after reaching financial close on Monday.The project involved the design, construction, finance and maintenance of a new facility for the Ecole Centrale Supelec on plateau de Saclay, near Paris.It also involves a shared teaching and research facility, an underground carpark and a hotel facility minus revenue, according to HICL.In around two years the project should be completed with an operational period of 26 years from construction completion.Total consideration for the investment came to €3.4m according to the company, and this was comprised of a loan stock subscription obligation payable upon construction completion.