Warbud SA, a subsidiary of Vinci, has achieved financial closure for a court PPP project in Nowy Sacz, Poland.
The total project investment is estimated at PLN122.9 million (US$32.5 million). Project financing has been provided by Bank Gospodarstwa Krajowego, which was advised by Dentons' PPP and Banking and Finance teams.
The amount of the facility extended as part of the "Polish Investments" project targeted at private and state-owned enterprises as well as local authorities is PLN49.5 million (US$13 million).
The project is also supported by the Ministry of Justice, Ministry of Infrastructure and Development.
The project involves the design, construction and financing of new headquarters for the District Court in Nowy Sacz. Additionally, the project includes the maintenance of the new facilities for a period of 20 years.
The building will have a total floor area of more than 10,000 m² and will offer modern office amenities, including well-sized courtrooms, effective support services, and as safe and efficient document archiving capacities.. The facilities will also include an underground parking.
The project is expected to be operational by early 2018.
Tomasz Korczy?ski, Counsel and co-lead of the PPP Team at Dentons, said:
"Dentons's advice to BGK was an essential element of the successful closing. The PPP market has seen a lot of challenges due to the unavailability of financing. The Nowy SÄ…cz investment seems to be a ground-breaking development for the Polish PPP market, which has historically seen more investment activity from local authorities than a central level authority more characteristic of markets with a robust PPP scene."
Nowy SÄ…cz is a town in the Lesser Poland Voivodeship in southern Poland. It is the district capital of Nowy SÄ…cz County. Nowy SÄ…cz is at the confluence of the Kamienica River into the Dunajec, about 20 kilometres north of the Slovak border.