2013-vinci-annual-report

62 CONCESSIONS / VINCI CONCESSIONS
01
01 VINCI Park acquired
50% of the share capital of
Moving, one of the leading
parking operators in the
south of Brazil.
02 Open Park, the
connected-services,
multimodal solution offered
by VINCI Park, aims to open
car parks up to the city.
02
PR1BINA expressway east of Bratislava since
2012. It financed and managed construction
of the infrastructure, the first motorway PPP
ever awarded in Slovakia. Operation, governed
by very strict conditions in terms of
safety, traffic flow and driving comfort, is the
responsibility of Granvia Operation, a wholly
owned subsidiary of VINCI Concessions. It
was awarded triple quality, environment and
safety certification (ISO 9001, ISO 14001,
OHSAS 18001) in 2013.
VINCI Concessions and Meridiam
Infrastructure finalised refinancing of the
project (€1.2 billion) at the end of the year,
replacing the initial loan with a 26-year
bond issue. Rating agency Standard & Poor’s
awarded a BBB+ rating to the issue, reflecting
the low-risk nature of the operation and
its attractive conditions for investors.
It delivers savings of almost €150 million
for the Slovakian government.
Russia. Work continued at a brisk pace on
the first 43 km section of the Moscow–St
Petersburg motorway in 2013. The concession
company is North West Concession
Company (NWCC), in which VINCI
Concessions has a 50% interest. The works,
carried out in conjunction with an action
plan aimed at minimising the project’s
environmental impact, are going ahead in
consultation with stakeholders. The sustainable
development plan put together at
NWCC’s initiative will invest almost
€100 million in environmental and social
actions, on top of those already provided for
in the initial contract.
Greece. Through its subsidiary Gefyra,
VINCI Concessions holds the concession
contract for the Charilaos Trikoupis Bridge
built by VINCI, which spans the Strait of
Corinth and links the Peloponnese to mainland
Greece. A toll interoperability system
between all the Greek motorway concession
companies was brought into service in 2013.
VINCI Concessions also holds stakes in
the concession companies operating the
365 km Athens–Tsakona and 240 km
Maliakos–Kleidi motorways. While operation
and maintenance continued, works
begun on these two motorways had been
suspended in 2011 due to the serious economic
crisis in the country at the time.
Talks with the Greek authorities since
then led to a successful restructuring
operation in December 2013 and works,
worth a total of €3.1 billion, resumed at the
beginning of 2014.
Parking - VINCI Park
VINCI Park, a world leader in parking,
manages almost 1.8 million parking spaces
and associated services in 14 countries.
Against a backdrop of weak economic
conditions in 2013, VINCI Park’s revenue
fell slightly (1.3%) to €607 million.