Grand Paris Express : green light for a new loan of one billion euros




To finance the future metro of Grand Paris Express, the Société du Grand Paris (SGP) has announced that July 10, 2017 that its supervisory board had accepted a loan of one billion euros from the european investment Bank (EIB). Details.
Still a good news for the Grand Paris Express. The supervisory board of the Société du Grand Paris (SGP) has validated the 10 July 2017, a second loan in the amount of one billion euros from the European Investment Bank (EIB).
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“In the Face of its needs of annual financing that will reach two billion euros starting in 2018, the company is continuing to pursue its policy of seeking funding from institutional partners”, said the Société du Grand Paris in a press release dated July 10. In addition, the public operator responsible for steering the future metro express is expected by 2030 has already signed a contract with the savings funds of the Caisse des Depots (CDC) for a loan of one billion euros on July 31, 2015 and a contract of the same amount from the EIB on 11 April 2016.

 

This large-scale project goes by the modernization of the existing network of public transport in the Ile-de-France and the completion of 68 new stations for a total budget of 3.4 billion euros. It also aims the creation of automatic metro lines in the “Grand Paris Express” to 24.9 billion euros, including the line 15 which should reduce congestion in the current network and connect between them the departments of near crown.

 

Two financing agreements signed for the RER B and D

 

Note also, that the supervisory board has authorized on Monday the signing of two financing agreements of the Société du Grand Paris (SGP), which lead to his contribution of 352 million euros to the blueprints of the RER provided by the plan of modernization of transport in the Île-de-France. The first focuses on studies of the projects and work of the master plan for the RER B to 64.4 million euros and the second, of the same nature, to the RER D in the amount of 15.7 million euros.
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Finally, the management company has decided to consolidate the financing of the extension of the RER E to the west through a fourth contribution of a total amount of 523,48 million euros. “It is an important support for Eole after the first three waves of funding of the project by the Société du Grand Paris : € 114 million on November 24, 2014, 159 million euros on the 13th of November 2015 and 237 million euros on July 11, 2016”, provides the details of the SGP. The latter has committed two-thirds of its financial contribution, which amounts to a total of 1.5 billion euros.

 

“By supporting the borrowing policy of the company, the communities in île-de-france confirms the willingness of the State who wishes to provide the Grand Paris, by 2030, a new metro, large capacity, and a network state of the art”, commented Philippe Yvin, chairman of the management board of the management company.




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