3i Infrastructure plc has recently announced that it has committed to invest approximately €5 million (US$5.6 million) to acquire a significant majority stake in Coeur du Sud BV, the special purpose vehicle created for the Hart van Zuid primary Public Private Partnership (PPP) project in Rotterdam, the Netherlands.

The project, which reached financial close few days ago, is also owned by Heijmans and Ballast Nedam groups. The approximately €200 million (US$227) project involves the renewal and revitalization of the area surrounding the Zuidplein and Ahoy centres in the Municipality of Rotterdam.

The Ahoy convention center will be expanded to include an international conference centre, a music hall, a cinema and a hotel. An art building with a library and theater will be constructed on the new Plein op Zuid square.

Additionally, the Zuidplein shopping center will be renovated and expanded and the new Charlois swimming pool will be incorporated into the current city hall. Furthermore, the metro and bus transportation hubs will be renewed. 

Construction work will for both centers will commence in the second quarter of 2016.

Richard Laing, Chairman, 3i Infrastructure plc, commented:

“This investment adds to our growing portfolio of primary PPP projects, alongside our economic infrastructure investments, and demonstrates our ability to originate attractive investment opportunities through our relationship with primary developers.” 

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

“We are pleased to announce the Company’s investment in the Hart van Zuid primary PPP project. This investment builds on our Infrastructure team’s existing experience of PPP projects in the Netherlands as well as our relationship with Heijmans and Ballast Nedam.”