Meridiam Achieves Final Close For The E18 Hamina-Vaalimaa Project In Finland

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Jun 09, 2015, 08:00 ET

PARIS, June 9, 2015 /PRNewswire/ -- Meridiam, a leading global investor and asset manager specializing in public and community infrastructure, and its construction partner YIT, announced today that their consortium has signed a 20-year PPP contract with the Finnish Transport Agency for the design, construction, financing and maintenance of the last section of E18 motorway towards the Russian border just three months after their selection as preferred bidder for this project in March 2015.

The total investment of approximately EUR 250M will be financed by long term loans from European Investment Bank, Nordic Investment Bank, and Pohjola Bank and equity to be provided by Meridiam (80%) and YIT (20%). This project is the second investment in Finland for Meridiam, after the closing in 2011 of the previous section of E18 (Koskenkyla - Kotka), also with YIT in the consortium.

"This close, our second with the FTA, is exemplary of their capacity to procure PPP efficiently. We look forward to a highly-effective realization for the region and its communities," said Thierry Deau, Founder and CEO, Meridiam.

This new section, which comprises 32 km of 2x2 lanes, is also part of the Trans European Network for Transport. Designed as a green motorway, it will help to reduce traffic congestion and to increase safety in the area. Construction will start this summer and the motorway will be progressively opened to traffic with full completion by the end of 2018. YIT will oversee construction and the subsequent maintenance period.

About Meridiam

Founded in 2005, Meridiam is an independent investment firm specialized in the development, financing, and management of long-term public infrastructure projects. With offices in Paris, New York, Toronto and Istanbul, Meridiam is a leading investor in public infrastructure across Europe and North America. Currently managing €3.2 billion ($3.8 billion) of assets, the firm has to date invested in 40 projects. Designated Global Infrastructure Fund of the Year for the third time in 2012, Meridiam was also the first investor and asset manager to receive ISO 9001 certification for its responsible investment process. Meridiam is a founding member of the Long Term Infrastructure Investors Association.

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SOURCE Meridiam