The Société du Grand Paris is the public agency set up by the French government in 2010 to deliver the vision of Grand Paris Express.
Following unprecedented public debate, the organization reflects and drives forward the views of the French government, the Île-de-France Region, its residents as well as their elected representatives.
The Société du Grand Paris leads operations related to the:
- construction of the new lines, stations, structures and facilities,
- acquisition of rolling stock for the infrastructure,
- development within and around the stations,
- design and building a pipeline of optic fibers along the new lines.
As the lines come into operational mode, the Société du Grand Paris will task Île-de-France mobilités, formerly Syndicat des transports d'Île-de-France (STIF), with running the network and, in accordance with European law, Île-de-France mobilités will then invite transport operators to bid to run the future Grand Paris Express lines. The Société du Grand Paris has designed each line to operate completely independently, with dedicated industrial sites and control rooms, meaning that the lines can be put out to tender individually. The Société du Grand Paris will, however, retain ownership of the infrastructure.
3 levels of governance
The Société du Grand Paris is governed by three complementary bodies.
1) The Supervisory Board constantly monitors the way the Management Board runs the Société du Grand Paris. It comprises 21 members representing State and local government authorities. The Supervisory Board’s responsibilities include approving the Société du Grand Paris' general policy guidelines, its financial management and its development or construction operations programmes.
2) The Management Board is responsible for running the Société du Grand Paris, under the supervision of the Supervisory Board. Its three members take a consensus-based approach, with one member being appointed as Chairman :
- Philippe Yvin, Chairman of the Management Board, in charge of managing the Société du Grand Paris and implementing the overall scheme and related development and building programs.
- Bernard Cathelain, Member of the Management Board in charge of program design and delivery for the transport project, and responsible for industry and procurement.
- Frédéric Brédillot, Member of the Management Board, in charge of cross-company functions, particularly financial and legal issues, human resources and general affairs.
3) The Strategic Committee is the Société du Grand Paris' forum for discussion, proposals and continuing consultation. It assists the Management Board with direction and decisions relating to the creation of Grand Paris Express network. It currently comprises 182 members who represent the municipalities through which Grand Paris Express network will run, 4 Members of Parliament and representatives of socio-economic stakeholders. It acts as a think tank and discussion forum for elected representatives from the Île-de-France communities and the Société du Grand Paris partners.
A long term secured financing
The total budget amounts to just over €29 billion. The funding framework is based on tax revenues, ensuring the financial stability of the project, and commercial revenue. To date, €3 billion have been invested to start the work in the form of loans granted by the Caisse des Dépôts and the European Investment Bank.
As a reflection of its robustness and long-term vision, Moodys Agency assigned the Aa2/Prime-1 rating to the Société du Grand Paris, on a par with France’s sovereign rating, hereby highlighting the strong operational, strategic and financial bonds between the two.