The regional government of Andalusia, Spain, has announced that Isolux Corsán and Copcisa Industrial have signed a financing agreement for the Cordoba courthouse PPP project.

The Cordoba courthouse was designed by Aguas y Estructuras SA (Ayesa) in collaboration with Mecanoo. The new building will have a total of 50.894 square meters divided over four floors (32,894) and two basements (18,146). The project is located in Arroyo del Moro, Cordoba.

The project involves the build, finance, operation and maintenance of the new facility for a period of 25 years. This is the first courthouse project developed under public and private partnership in Andalusia.

The financing has been provided by Caixabank. The total project cost during the life of the PPP contract is estimated at €345 million (US$515 million).

The project has raised financing three years after the consortium led by Isolux was selected as the preferred bidder. The agreements comes after the regional government gave the consortium several postponements for the FC deadline.

Construction works were scheduled to start in May 2012 in the initial plan but they will start in late August. After this, the consortium will have 36 months to finish the project which will be operational by 2017.