3i Infrastructure plc has committed to invest €8 million (US$9 million) to acquire an 80% interest in the Condorcet Campus Public Private Partnership (PPP) project in Aubervilliers, France.

A consortium comprising 3i Infrastructure plc and entities of the VINCI Construction France and ENGIE groups was selected as preferred bidder following a competitive tender run by the Etablissement Public de Cooperation Scientifique Campus Condorcet, a public entity under the supervision of the French Ministry of Higher Education and Research.

The €170 million (US$189 million) project involves the design, build and finance of new buildings for the Condorcet Campus in Aubervilliers, north of Paris, as well as the provision of facilities management services. Classrooms, student housing, a faculty club, cafeterias and other student living facilities will be built for the use of social sciences students, faculty and research staff. Construction is expected to be completed by the summer of 2019.

Richard Laing, 3i Infrastructure plc Chairman, commented:

“Our investment in this project represents another step in growing our portfolio of primary PPP projects and will provide further sector and geographical diversity to the portfolio alongside our economic infrastructure investments.”

Ben Loomes and Phil White, 3i Infrastructure plc Investments Managing Partners and Co-heads, added:

“We are pleased to announce the Company’s investment in the Condorcet Campus primary PPP project. 3i’s Infrastructure team has extensive experience in the social infrastructure sector and in investing in educational facilities, including through its investments in various intermediary schools, high schools and universities in France, and we are pleased to be working again with our partners, the VINCI Construction France and ENGIE groups.”