MegaProject 99: Financial and commercial close for 620 million Marseille bypass
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The Société de la Rocade L2 de Marseille, formed by Group Bouygues Travaux Publics (17,5%), CDC Infrastructure (35%), the fund Meridiam Infrastructure Finance (35%), EGIS (5%) and Spie Batignolles (7,5%), has signed a partnership contract with the French Ministry of Ecology, Sustainable Development and Energy for the new Marseille bypass, known as the L2 or the A507.
The 30-year PPP (Public Private Partnership) contract includes financing, design, construction, maintenance and renewal of the infrastructure and equipment. When all construction is complete, the infrastructure will be operated by the Mediterranean division of the French Interdepartmental national road network.
The largest infrastructure project awarded in France in 2013, the total investment amounts to €620 million.
The project will be jointly financed by the Provence-Alpes-Côte d'Azur Region, the Bouches-du-Rhône Department and the Marseille Provence Metropole Urban Community through the payment of grants during the period of construction. When the L2 East section comes into service, the French Government will pay a royalty which will primarily allow the reimbursement of the financial bond of approximately €165 million invested by the Société de la Rocade L2 de Marseille with the Allianz group; as well as covering the cost of upkeep, maintenance and renewal of the infrastructure.
The L2 will take traffic away from the centre of Marseille and decongest the city thanks to the creation of a toll-free urban expressway approximately 10 kilometres long, which will link the A7 motorway.
Two distinct stretches will be designed and built: a completely new section to the north of the city (4.1 km) and completion of the construction of the east section, 5.5 begun some twenty years ago.