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Jun 9, 2020

Meridiam successfully achieves financial close of the first social PPP project in Finland

A 22-year concession contract that will contribute to c. 15% of the city needs in healthy schools and day care centers.

 

Meridiam has successfully reached financial close for the design, build, financing and maintenance of 5 schools and 3 daycare centers for over 4,000 pupils 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 by providing safe and healthy spaces for students and school staff and improving air quality in the premises.

 

This project illustrates Meridiam commitment to build sustainable and resilient social infrastructure with positive impact for the communities, and dedication to working in partnership with the public sector.

 

These schools and day care centers will 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 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.

 

 

*https://www.espoo.fi/en-US/Espoo_pioneering_in_public_procurement_o(183024)

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