The University of Paris-Sorbonne has reached financial close on its PPP project to redevelop a campus located in the city’s 18th arrondissement.
Sophi, a special purpose vehicle comprising Bouygues Construction subsidiaries Bouygues Bâtiment Ile-de-France and Exprimm, SEIEF investment funds and Dexia Crédit Local, has been awarded the contract to develop the facilities, which will ultimately serve around 6,000 students.
The consortium will be responsible for the design, construction, financing and operation of the university’s Centre de Clignancourt. The project, which spans a 28-year concession period, has a total contract value of €87 million, made up of €44 million for the design, construction and financing, and €43 million for the subsequent operation of the facility.
The maintenance portion of the contract includes maintenance, major repairs and renovation, in addition to further soft facilities management services.
Demolition work is set to commence in September, with the new facilities set to open at the beginning of the 2011-2012 academic year.
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