Vinci Signs French Railways Public-Private Partnership Contract
February 18 2010 - 12:50PM
Dow Jones News
French construction and concession company Vinci SA (DG.FR)
Thursday said its 30% owned unit Synerail has signed a public
private partnership contract with French railway network Reseau
Ferre de France, or RFF, for a digital telecommunications
network.
MAIN FACTS:
- The first public private partnership contract in the French
rail sector is for 15 years and worth around EUR1 billion, Vinci
said.
- Synerail is 30% owned by Vinci, 30% by Vivendi SA's (VIV.FR)
SFR, 30% by French insurer Axa (AXA).
- The works, worth a total of about EUR520 million, will be
executed by a company in which Vinci Energies has a 60% equity
holding. They will take five years to complete.
- Operation and maintenance of the GMS-R system will be carried
out by a specially formed company owned 40% by Vinci Energies.
These activities represent EUR430 million in total.
- The project financing consists of shareholders' equity of
EUR58 million, an RFF contribution of EUR160 million and a
non-recourse bank loan of EUR520 million.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
djnews.paris@dowjones.com
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