3i Infrastructure plc announces investment in the Condorcet Campus primary PPP project
3i Infrastructure plc (“3i Infrastructure” or “the Company”) announces today that it has committed to invest €8 million to acquire an 80% interest in the Condorcet Campus Public Private Partnership (“PPP”) project in Aubervilliers, France.
A consortium comprising 3i Infrastructure and entities of the VINCI Construction France and ENGIE groups was selected as preferred bidder following a competitive tender run by the “Etablissement Public de Cooperation Scientifique Campus Condorcet”, a public entity under the supervision of the Ministry of Higher Education and Research.
The €170m project involves the design, build and finance of new buildings for the Condorcet Campus in Aubervilliers, north of Paris, as well as the provision of facilities management services. Classrooms, student housing, a faculty club, cafeterias and other student living facilities will be built for the use of social sciences students, faculty and research staff. Construction is expected to be completed by the summer of 2019.
Richard Laing, Chairman, 3i Infrastructure plc, commented: “Our investment in this project represents another step in growing our portfolio of primary PPP projects and will provide further sector and geographical diversity to the portfolio alongside our economic infrastructure investments.”
Ben Loomes and Phil White, Managing Partners and Co-heads, Infrastructure, 3i Investments plc, added: “We are pleased to announce the Company’s investment in the Condorcet Campus primary PPP project. 3i’s Infrastructure team has extensive experience in the social infrastructure sector and in investing in educational facilities, including through its investments in various intermediary schools, high schools and universities in France, and we are pleased to be working again with our partners, the VINCI Construction France and ENGIE groups.”
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For information please contact:
Chairman, 3i Infrastructure plc
+44 1534 847 410
+44 20 7975 3258 Email: firstname.lastname@example.org
Kathryn van der Kroft
+44 20 7975 3021 Email: email@example.com
Notes to editors:
About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure, primary PPP and low-risk energy projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.