MILAN STATALE UNIVERSITY CAMPUS DEVELOPMENT PPP

Promoter – Financial Intermediary

UNIVERSITA DEGLI STUDI DI MILANO

Location

• Italy

Description

The loan will finance the development of new academic, research and related buildings to form part of a new modern campus for the University of Milan, to be located in the heart of the Milan Innovation District (MIND), on the former 2015 Milan EXPO site. The new MIND campus will cover an area of approximately 220,000m2, which will include teaching, learning and research space, including laboratories and sports infrastructure. The project will be delivered through a Public Private Partnership (PPP) scheme.

Additionality and Impact

The Project addresses a sub-optimal situation with regard to investments in higher education and public research in Italy. The project will provide modern teaching and research space for the University of Milan's science and technology departments. The new MIND campus is expected to increase the university's competitiveness and attractiveness to talent through access to state-of the art laboratories and instruments for both teaching and research. The Bank's provision of long term financing with a sculpted repayment profile adjusted to the cash flows of the Project provides significant stability to the Borrower's Capex plan. 

Objectives

The aim is to provide modern teaching and research space for the University of Milan's science and technology departments. The new MIND campus is expected to increase the university's competitiveness and attractiveness to talent through access to state-of the art laboratories and instruments for both teaching and research.

Comments

n/a

Sector(s)

• Services - Professional, scientific and technical activities
• Education - Education

Proposed EIB finance (Approximate amount)

EUR 190 million

Total cost (Approximate amount)

EUR 413 million

Environmental aspects

Council Directive 2011/92/EU as amended by Directive 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible national authorities to request an EIA on the basis of the location and scale of the works concerned. However, universities are likely to fall under Annex II of EIA Directive 2014/52/EU with respect to urban development. Social and environmental aspects as well as any issues related to historical and cultural heritage will be verified during the appraisal. The project will include new buildings, which will comply with the 2010/31/EU directive on energy efficiency of buildings.

Procurement

The promoter has to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required. The project was published in the OJEU with reference number: 2019/S 144-353716.

Status

Signed - 21/12/2023