TINC, the infrastructure investor listed on Euronext Brussels, has announced that it entered into a partnership with Macquarie Capital according to which TINC will hold a minority economic interest in an Irish public-private partnership (PPP) of social housing facilities in the Dublin Region (Ireland).

During the construction and the transition to operations, Macquarie Capital will retain lead responsibility for active management and oversight of the project. The EUR 120 million (US$ 131.53 million) project is an availability-based PPP with a 25-year contract term consisting of 6 social housing locations (534 units) all close to Dublin on the east coast of Ireland.

The project is the first bundle within the Social Housing PPP Programme announced by the Irish Minister for Public Expenditure and Reform in 2015, which in total is proposed to deliver 1.500 additional social housing units. The availability of the project is scheduled by 2021, after which TINC’s minority economic interest will become a majority interest subject to contractually agreed parameters. TINC’s investment commitment of in total ca. EUR 16 million (US$ 17.53 million) will be funded after the availability of the project.