MegaProject 420: EIB considers financing Madrid court PPP project
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The European Investment Bank (EIB) is considering financing the second phase of the "Ciudad de la Justicia" in Madrid, Spain.
The total project investment is estimated at €510 million (US$537.5 million). The Community of Madrid will pay to the preferred bidder a fee of around €45 million (US$51 million) per year. The proposed EIB finance has not been disclosed.
The project, which will be carried out in an area of 200,000 m², involves the development and maintenance of new facilities to house 356 courts of the Judicial District of Madrid, 554 judges and magistrates, 202 prosecutors and 362 court clerks among others.
The project comprises the design, construction, financing and facility management of a new Court of Justice under a 30-year concession.
The tender process for the project was launched in February, interested parties must submit their proposals on or before 1 April 2014. Construction works are scheduled to begin in July 2016 and the new facilities are expected to be operational by 2019.
The project will lead to a productivity improvement of judicial services, positively affect citizens and employees, and is expected to improve energy efficiency compared to the currently used buildings. It will be located at the site where the Community of Madrid has already invested €288 million. The investment has included, among others, the development of the new Institute of Legal Medicine.
The government of Madrid has recently announced plans to develop a new regional airport trough a public private partnership (PPP) project. The project will be developed in the south of Madrid. The concession contract would be for a period of 40 years and the total project investment is estimated at €230 million (US$242.1 million).
Tender documents can be found in the link below (Spanish):
See an analysis of the tender documents (by Dentons):