Vinci set to win massive rail contract

A consortium led by Vinci has been named preferred bidder to construction the € 7 billion, 303 km high speed rail link between Tours and Bordeaux, in France. The other members of the LISEA consortium are private equity investor CDC Infrastructure and Insurance company AXA's private equity arm.

The contract comprises a 50-year concession period covering financing, design, construction, operation and maintenance of the line. The concessionaire will be remunerated by fees paid by train operators to use the line.

Vinci Construction will head the design and construction part of the contract, and the company says this will also include sister companies Eurovia, Vinci Energies and Cegelec. The operation and maintenance work will be carried out by a joint venture formed between Vinci Concessions and maintenance specialist Inexia.