First two investments in France
14 January 2014
HICL Infrastructure Company Limited
First two investments in France
HICL Infrastructure Company Limited (the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of two new investments in France, being an 85% interest in the University of Bourgogne PPP ("University Project"), and a 90% interest in the Troissereux by-pass RD901 PPP ("RD901 Project"). Both projects are under construction having reached financial close in July 2013 and January 2014 respectively.
University Project
The University Project is a contract to design, construct, finance and maintain four new academic buildings on the Bourgogne university campus, and to refurbish an existing building, with a total gross internal floor area of 7,000sqm. The Group acquired its stake from Pertuy Construction who is undertaking the c.£17m construction programme over the next two years. Facilities management is contracted to Bouygues Energies & Services which will bear the lifecycle risk during the 25 year operational period.
RD901 Project
The RD901 Project, with a capital value of €62m, comprises the design, construction, finance and maintenance of a new 7km dual carriageway bypassing the small town of Troissereux, near Beauvais. This 22 year PPP contract is structured on an availability basis with payments from the Département de l'Oise. Construction will be jointly undertaken over the next 3 years by Colas Nord-Picardie, Bouygues TP Régions France and DTP Terrassement. A subsidiary of Colas SA will maintain the carriageway under a fixed-price contract.
The total capital commitment for the two investments is €6.5m comprised primarily of future loan stock subscription obligations which are contractually payable upon construction completion of each project.
Erwan Fournis, Director, Infrastructure of InfraRed Capital Partners Limited (the Company's Investment Adviser) said:
"We are very pleased with our first two investments in France which demonstrate the intention of the Group to develop its activities in this region. These two acquisitions are part of a pipeline of investment opportunities in France being pursued actively by the Group."
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Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
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Keith Pickard
Robin Hubbard
Tulchan Communications +44 (0) 20 7353 4200
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HICL Infrastructure Company Limited
The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 93 social and transportation infrastructure investments and is seeking further suitable investment opportunities which fit its stated Investment Strategy.
Further details of the Company can be found on its website www.hicl.com
Investment Adviser
The Investment Adviser to the Company is InfraRed Capital Partners Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997.
InfraRed Capital Partners Limited is authorised and regulated by the Financial Conduct Authority.
This information is provided by RNS
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