HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, has closed financing for the Ecole CentraleSupelec PPP project.

HICL Infrastructure has an 85% ownership interest and has partnered with Bouygues and FIN Partner I. The total consideration for the investment is €3.4 million (US$3.87 million), comprising a loan stock subscription obligation payable upon construction completion.

The project reached financial close on 16 February 2015 and consists of the design, construction, finance and maintenance of a new facility for the Ecole CentraleSupelec on plateau de Saclay, near Paris, as well as a shared teaching and research facility, an underground carpark and a hotel facility (the revenue from which does not form part of the project).

The project will be built by Bouygues Batiment Ile de France and will take approximately 2 years to complete, with an operational period of 26 years from construction completion. The facilities management (FM) contract will be with Bouygues Energy & Services, which will also assume the lifecycle management risk.

The property complex of approximately 25,000 m², is primarily intended to house the School's teaching and research activities (research laboratories, teaching and training facilities, common spaces, etc.). It will also house facilities shared at the level of the Moulon university district (gymnasiums and sports halls, teaching rooms, etc.). In addition, it provides opportunities for the rental of facilities to partners, which will make it possible to strengthen links with business.

The architectural project by the Zurich-based architects Gigon/Guyer meets CentraleSupélec's requirements is a convincing and ambitious manner.

The most characteristic aspects of the proposal that attracted CentraleSupélec's attention following a year-long competitive dialogue included the following:

• The architectural concept, constructed around a generously sized entrance hall with artificial topography that creates a series of very interesting work, project and teaching spaces;
• The quality of the exterior envelope, which is original, sustainable and particularly distinctive;
• The provision of space available for rental (the "Innocity" offer) and its inclusion in the project, which helps to make this development symbolically opened to the world and enriches the School's activities by the enormous potential this will allow;
• The competitive nature of the financial offer and the sound legal footing of the proposal

École Centrale Paris is a French university-level institution in the field of engineering. Founded in 1829, it is one of the oldest and most prestigious engineering schools in France. École Centrale Paris offers graduate degree programs as well as PhD opportunities.