Infrastructure investor DIF agrees French university PPP project

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Infrastructure investor DIF has reached financial close on a PPP project at Toulouse-Mirail University in Toulouse, south-western France.

The project consists of a ‘design, build, finance, operate and maintain’ agreement for several campus and faculty buildings and is part of the Plan Campus scheme launched in 2007 by the French government to renovate universities nationwide.

DIF Infrastructure III holds a 51 per cent stake in the project, with Vinci holding the remaining 49 per cent. The project agreement has a fixed tenor of 30 years and project completion is expected in December 2016. Long term debt financing is provided by Japanese banks SMBC and BTMU up to €108m and by French Caisse des Dépôts et Consignations up to €36m.

DIF Infrastructure III said it is currently bidding on several other primary University PPP Projects part of the Plan Campus and is preferred bidder on the Lyon Mérieux University project for which closing is expected this summer.

DIF manages funds of €1.6bn and invests in infrastructure assets including PPP/PFI and renewable energy projects in Europe and North America.

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