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Icade consortium signs public-private partnership hospital contract

The Icade consortium, composed of Caisse des Dépôts, Dexia, Barclays European Infrastructure Fund II and Icade, has signed a public-private partnership contract for the construction of the Cité sanitaire de Saint-Nazaire.

Saint-Nazaire hospital and the Saint-Nazaire mutual insurance centre (Pôle mutualiste) are combining for the implementation of a major reorganisation project for health services, through a single sanitary network with 794 beds and places. In order to implement this project, the two institutions have set-up an HCG – Health Cooperation Group (Groupement de Coopération Sanitaire) – and have launched a 35-year Public-Private Partnership in respect of funding, investment, design, construction and maintenance of the Cité sanitaire de Saint-Nazaire.

This 280 million euro investment, exclusive of taxes and heavy medical equipment, will be managed by a project company created specifically for this purpose - La Cité – which has the following shareholdings:

• 33% for Caisse des Dépôts
• 25.5% for Dexia
• 25.5% for Barclays European Infrastructure Fund II
• 16% for Icade

It is the second-largest public-private partnership hospital contract signed to date.

The project, thought-up by the architects' firm, Groupe 6 Architectes (Grenoble), and Icade Sethri engineers - Setae and Ingrop, will develop a surface area of 93,000 m² of net floor space (SHON), on a 15 ha site located to the west of Saint-Nazaire. The buildings will be designed according to High Quality (HQ) standards.

In addition to its involvement as investor, Icade will be responsible for developing the hospital complex, together with Eiffage Immobilier. The construction works will be carried-out by Eiffage Construction Pays de Loire, in partnership with Forclum. During the term of the contract, Eiffage Construction Services and Icade Eurogem will be responsible for maintenance. The works are scheduled to begin in mid-2009 with the buildings being delivered during Q1 2012.



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