Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 04-Oct-2018

EIB Vice-President Ambroise Fayolle and Chairman of the Executive Board of Societe du Grand Paris Thierry Dallard signed today a EUR 500 million finance contract for Line 15 South of the Grand Paris Express. This third financing tranche brings the EIBs total commitment to the project to EUR 2.5 billion.

It will contribute to meeting Societe du Grand Pariss financing needs up to 2020, amounting to over EUR 8 billion. In 2018, Societe du Grand Paris planned to borrow EUR 2.4 billion, followed by over EUR 3 billion in 2019. The EIB support provides a solid financial base that will enable Societe du Grand Paris to continue to develop the project whilst benefiting from particularly attractive financial terms thanks to the EIB's AAA credit rating.

The signing ceremony took place on the site of the Arcueil-Cachan station, located on the future Line 15 South of the new metro system, in the presence of Mayor of Cachan Helene de Comarmond and Member of the National Assembly Albane Gaillot. The 33 km line will connect Pont-de-Sevres to Noisy-Champs in less than 40 minutes.

During the current work acceleration phase for Line 15 South, the signing of this agreement re-affirms the long-term support that the EIB is giving us. This operation is fully consistent with the financial strategy of Societe du Grand Paris, which, with its recurrent financing requirements of around EUR 3 billion a year, is preparing to raise funds on the international financial markets via 100% green bond issues. Chairman of the Executive Board of Societe du Grand Paris Thierry Dallard

This is a major financing operation for a large-scale urban project which will link the citys main business hubs and help to make some parts of the region less isolated. By financing Line 15 South, the EIB has opted to support a high-performance, sustainable and more accessible transport service. This new line will improve the mobility of le-de-France residents while promoting the attractiveness and economic competitiveness of the region. EIB Vice-President Ambroise Fayolle.

Go to previous page