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Oct 15, 2019

Meridiam awarded the first social PPP project in Finland

A 22 years concession project that will contribute to 15% of the city needs in healthy schools and day care centers.

Meridiam has been awarded the design, build, financing and maintenance of 5 schools and 3 daycare centers for over 4,000 pupils1 in Espoo, the 2nd largest city in Finland located close to Helsinki. This project is the first social Public Private Partnership in the country. It is part of Espoo’s investment program called “Schools in shape”. And will contribute to approximately 15% of the identified needs to guarantee healthy and functional premises for schools and day care centers in the city. This project intends to improve the learning environment for pupils and teachers and provide improved air quality living environments on the site.

The first schools will be completed in 2022, and the concession period will last 22 years, i.e. until Summer 2042. Meridiam partnered with YIT, the largest construction company in Finland, which is already our partner in the E-18 I & II road projects, a vital corridor connecting Helsinki and Scandinavia to St Petersburg.

This project illustrates Meridiam commitment to build sustainable social infrastructure, and to directly contribute to the United Nations Sustainable Development Goals and especially:
- providing an access to quality and essential health care services for all (SDG 3)
- improving the energy efficiency of the buildings (SDG 7)
- building a resilient infrastructure, promote inclusive and sustainable industrialization
that benefits all and foster innovation (SDG 9)

The Financial Close is planned in June 2020 following the approval of all building permits. Meridiam will have a majority stake 80% of the equity shares of the SPV alongside its co-shareholder YIT.

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