VINCI Signs with Voies Navigables de France (VNF) a Partnership Contract for
the Automation of 31 Dams on the Aisne and Meuse Rivers
*A Project Totalling €312 Million
*a 30-Year Partnership Contract
*a Project That Fits in with VNF’s Programme of Upgrading and Modernising
Waterways and Structures.
RUEIL MALMAISON, France -- October 25, 2013
BAMEO, a (50%) subsidiary of VINCI Concessions (Paris:DG), in partnership with
SHEMA (EDF Group) has signed with Voies Navigables de France (VNF) a
partnership contract for the replacement of manually operated dams on the
Aisne and Meuse rivers.
The 30-year contract covers the design, funding, construction and,
subsequently, the operation, upkeep as well as routine and heavy maintenance
of the 29 automated dams and of associated equipments. It also includes
dismantling the existing dams, as well as the upgrading, upkeep and routine
and heavy maintenance of 2 dams that have already been automated. Moreover, 3
of the dams are to be equipped with micro-hydropower plants.
Investment in the project totals €312 million. The funding structure includes
a contribution in equity of €30 million, a long-term bank loan of €266 million
granted by 4 banks (Bank of Tokyo-Mitsubishi UFJ Ltd, KfW IPEX Bank, Société
Générale and Sumitomoto Mitsui Banking Corporation). Caisse des Dépôts et
Consignations acting via Direction des Fonds d'Epargne contributes to 25% of
the financial requirements during the operation period.
Work will total €256 million and last 6 years and 5 months. It will be carried
out by a construction joint venture led by VINCI Construction France,
represented by EMCC (leader), Tournaud, GTM HALLE and CBR TP, which will
include local small and mid-sized firms.
BAMEO will be paid in the form of fees linked to the delivery of the dams.
Dams will start to be delivered in March 2016 and all 29 dams are to be
commissioned by 2020. Their operation and maintenance will be entrusted to a
dedicated subsidiary of VINCI Concessions (40%) and of SHEMA (EDF Group).
The project is a key component of Voies Navigables de France’s drive to
modernise the French waterway infrastructure. It fits in with VNF’s 2011-2013
environmental performance objectives (fishways at each dam to ensure
ecological continuity; hydropower generation in accordance with national
energy transition objectives).
Maxence Naouri, +33 1 47 16 31 82
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