A Meridiam Infrastructure–led consortium has reached a €1.8 billion ($2.2 billion) financial close on the Contournement Nîmes Montpelier (CNM) High Speed Link in France. This project is the third High Speed Link project procured under a P3 scheme in France.

Under the project agreement, the Meridiam consortium will design, construct, operate and maintain a new track of 80 kilometers for high-speed trains for 25 years with cash flow driven by availability payments. The agreement is subject to performance deductions and is contracted with Reseau Ferré de France, a 100 percent state-owned company whose key responsibility is the management of the French rail infrastructure.

The new track will be built in five years and three months by a construction joint venture led by Bouy