14th Jan 2014 11:58
LONDON (Alliance News) - HICL Infrastructure Company Ltd Tuesday said it has invested in two French projects, which are the first of a pipeline of possible investments in the country that the investor is actively pursuing.
"The total capital commitment for the two investments is EUR6.5 million comprised primarily of future loan stock subscription obligations which are contractually payable upon construction completion of each project," the company said in a statement.
The infrastructure investment company said it has taken on an 85% stake in a contract to design, construct, finance and maintain four new academic buildings on the Bourgogne university campus, as well as to refurbish an existing building.
HICL said it acquired the stake from Pertuy Construction, the company undertaking the GBP17 million 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.
The second contract, which has a EUR62 million capital value, is a contract for the design, construction, finance and maintenance of a new 7km dual carriageway bypassing the small town of Troissereux, near Beauvais.
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.
HICL shares were Tuesday quoted at 136.60 pence, down 0.20 pence, or 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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