Infrastructure construction and racket on mobility ---- Vinci ---- BUSINESS DEVELOPMENT IN
THE CAPITALIST ---- The group Vinci is involuntarily speak of him since the operation
"Caesar", which had the merit of the dispute out of Notre-Dame des Landes and issues of
confidentiality on which the media had relegated far. Interesting in there a bit, you
realize that this is one of those big capitalist groups who, by their development
strategies, the markets they want to take - when they do not invent purely and simply -
lies at the heart of the capital development in the areas needed and chokepoints factory
in the world today and tomorrow. Between urban redevelopment, new areas of production and
extraction of raw materials, carriage of goods and human mobility market, groups such as
embrace exactly Vinci (and try to anticipate) the new spatial organization and the
requirements of temporality and movement of the current capitalist expansion from a global
perspective.
But these groups are dependent on global growth, or at least the persistence of strong
local growth, as far as is possible in a globalized precisely. With the popular
mobilizations that cripple the projects they are the architects and main beneficiaries,
this is their main Achilles heel.
The group Vinci has changed considerably since its inception, relatively recently, in
2000. Initially, this is essentially a group of construction, Soci?t? G?n?rale Corporate,
then held by the CGE (General Electricity Company) became Vivendi in 1998 and Veolia
Environnement. Today, on the one hand Vinci consolidated its position as the major
construction, but it is also diversified in three main areas: concessions, transport
infrastructure and urban planning, energy, which is can add real estate (Vinci Immobilier).
The originality of the Vinci group is to hold together the fields or jobs that can operate
separately but interact, "create synergies" as they say, that is to say complementarities
to offer customers turnkey solutions, integrated into what they call "complex projects",
from feasibility studies, design, project financing, and building and construction
themselves, and then the operation and maintenance . Or failing to take at least a part of
a market in arbitrations "political" or separate bids for a single large project.
The second originality is to adapt its "business model" to different sectors: construction
is cyclic but not mobilized substantial funds and generates little debt as projects are
already largely sold to the start of work and totally at the end. By cons, concessions, at
least those highways, mobilize more debt upon acquisition to be reimbursed fairly long
periods by a rentier economy ... very profitable at the operational level: where contracts
operating public domain twenty, thirty or seventy years (the A19).
The third novelty is that the Vinci Group is a flexible, network, a constellation of 2,250
companies ("business unit" in the language of the house), many small and a few large
companies, especially in the construction and energy sector, with a high degree of
autonomy of management to adapt to a market consisting of a multitude of achievements of
small and medium size (renovation, air conditioning, heating, lighting ...) next to large
sites (construction of trams, all buildings, solar ...). When bidding for the construction
of such office (at Maison Alfort, 94), campus (Palaiseau, 91) or renovation of a sports
center (Insep in the Bois de Vincennes) several group companies are competing, which
created competition "internal" and increases the chances of the market. Flexibility and
decentralization. And synergy and complementarity, which are the words, the leitmotif of
all the group communication. With networked, cross, skills, particularly in engineering.
When the construction is ...
Construction. Vinci Construction
With 14.1 billion euros of turnover in 2011, is the first construction group in France and
third in the world. The construction industry is the largest contributor (37%) the results
of the group, 46% achieved abroad [1]. Vinci Construction is 700 companies, 67,000
employees (12,000 officially CDD). Its main competitors in France are Eiffage and Bouygues
Construction.
The particularity of these large groups is that they can only exist by commissioning
public at large, who represent the vast majority of activity: construction or repairs of
roads, roundabouts, bypasses, parking, schools, seats administrations, university
campuses, airports, housing, hospitals ... Civil engineering, earthwork, structural work,
Vinci works on major projects with its subsidiaries finishing work, including the pole
Vinci Energies. For nuclear Vinci intervenes at all levels: building new plants in
partnership with Areva (EPRs), infrastructure-related uranium mines in Niger and Gabon,
the storage of waste (Bure), maintenance plants, dismantling, construction of the reactor
building ITER at Cadarache, and in partnership with Bouygues to 50/50, the implementation
of the sarcophagus (containment) of Chernobyl. For very large projects like it, or
tunneling or the highway earthwork or construction of the TGV Tours-Bordeaux, Vinci can
mobilize large companies and has recently created a division Constructions Great Project.
For wind farms, oil infrastructure offshore and deepwater port terminals, Vinci has
subsidiaries, vessels and specialized equipment for dredging, rock seabed laying
pipelines, drilling ...
Besides this, Vinci is of course present in private real estate, residential, commercial,
industrial and tertiary - the building sector accounts for 70% of sales of Vinci
Construction - rehabilitation and retraining-delivery standards (asbestos) or
construction, for example, several towers in La D?fense, part of the ZAC Paris Rive Gauche
or Marseilles under the Eurom?diterran?e (several towers, a museum ...). Also include the
Cit? du Cin?ma in Saint-Denis (partnership studios Luc Besson) in cooperation with Vinci
Energies, on behalf of ... Vinci Immobilier, luxury hotels in the west of Paris, the
assembly plant new Airbus A350 in Toulouse, leisure center and shops Lyon Confluence
(164,000 m2) after delivered in 2009, in the same neighborhood, the new Hotel of the
Rh?ne-Alpes region, or 28 projects assigned by the municipality of City of Hautmont
(North). It is not rocket science to imagine the hand that will take Vinci in carrying out
the work of Pharaonic Grand Paris: transport, activity centers, research ...
Vinci size also an important part of the modernization of equipment and fleet of hospital
ships in rehabilitation or construction pure ... Paris (Necker hospital restructuring),
Marseille (new hospital logistics platform + PA), Toulon, Nice, P?rigueux, Toulouse
(University Hospital of cancer in the new Canc?rop?le with 7 buildings), Ch?lons
-sur-Sa?ne, Argenteuil, Chamb?ry, Bron (The Vinatier psychiatric center), excluding
extension work or renovations to Valenciennes, Troyes, and probably forget. In eduction,
not counting schools, colleges, colleges, campus (classrooms, sports, offices and student
residences ...) including the installation of the University of Paris-VII on the website
Paris-Rive- left and the new campus of the National School of Advanced Techniques on the
site of the ?cole Polytechnique in Palaiseau.
Besides the already mentioned Cit? du Cin?ma, the museum include the Museum of the
civilizations of Europe and the Mediterranean in Marseille, the Cit? de l'Ocean in
Biarritz, or the new stages of Le Mans, Le Havre, Bordeaux, Nice room "multimodal" Arena
Nanterre (up to 40,000 spectators) and Dunkirk. In the area of ??excavation, after
provisional very large motorway projects (completion of the A89 Bordeaux-Lyon), Vinci can
rely on the creation of new TGV lines, especially 310 kilometers that will connect Tours
in Bordeaux whose whole group Vinci benefits under a Public Private Partnership concession
(including maintenance) on behalf of RFF, which adds the design and construction of the
line until 2016. This is what is called a "global product" turn-key (design-build-lease)
for a comprehensive range to meet global demand that the Vinci Group seeks to promote the
"model" and be the undisputed leader.
Finally, Vinci, is also a multitude of projects "means" on behalf of Vinci Immobilier or
other promoters or social landlords. For local authorities, also include sewage treatment
plants, replacing many connections and lead pipes, the deviation networking sites
associated with the construction of tram lines ... or rehabilitation of 71 police stations
in 2010 to nursing homes, building extension (H?tel de R?gion in Toulouse) ...
Vinci, an enterprise Sustainable Development
Vinci Constructions is undoubtedly one of the major companies has early adapt its
discourse, its sales and marketing strategy to "sustainable development" born conferences
on global warming, and as a source to create new profit margins " the Group considers the
rise of environmental requirements as an opportunity to evolve its offerings and expand
its business value. VINCI Construction companies continued their environmental
certification. The share of sales covered by ISO 14001 reached 59% in 2010 "[2]
As for nuclear Vinci knows where to take advantage of all situations, since the
construction, maintenance, safety, decommissioning, the group Vinci captures the concrete
markets but also those of "the environmental dimension in the implementation of sites
(...) sorting and recycling of waste, fight against pollution (dust, noise), widespread
availability of kits security (prevention of pollution), etc.. "[3] and also the"
eco-design "of buildings within the project" sustainable city ", that is to say the
creation of software tools that measure the" footprint "(CO2 emission performance energy)
buildings.
All the talk of Vinci takes place in this niche. The group wants to develop "sustainable
jobs", the new name of the CDI (CSD but also from 18 months), for "creating shared value".
Thereupon Vinci is present on a very ideological, with the creation of a think tank, La
Fabrique de la Cit?, which is used to communicate but also to be able to work for the
benefit of researchers, specialists in top flight of detailed technical issues, for
example on sustainable materials known precisely.
Transport infrastructure and urban development.
Eurovia is that more or less covers this vast construction, maintenance or repair of road
transport infrastructure and rail, but also urban development, quarrying, industrial
production. Twenty subsidiaries in France, thirty in the world, including eight
specialized subsidiaries Euriovia Railway Works (work on the Metz-Strasbourg TGV, and
Future Tours-Bordeaux) Turnover of 8.7 billion euros , nearly 25% of the total turnover of
the group. 58% in France. 40,000 employees in total. By cons, lean operating income: EUR
220 000.
If Vinci Constructions is the king of concrete, Eurovia, they are the kings of the
bitumen. Eurovia is indeed taking care of most of the roadwork: redevelopment of city
centers (Poitiers, Nancy ...), paving, pedestrian, bus station, development of ZAC
(sanitation, roads ...), rehabilitation and enlargement of county roads on behalf of
councils, roads and motorways unpatented (25% of the total length) on behalf of the State
and of motorways in Highways ... Vinci ... It is also Eurovia which deals with the
construction of tramways (Angers, Montpellier, Besan?on, Le Havre, Orl?ans, Lyon,
Bordeaux, Toulouse ...).
In addition to its 400 quarries (aggregates), it is also a manufacturing industrial road
pavements, resin, asphalt, "asphalt", sealants, prefabricated concrete, recycling and
reprocessing ... Without deconstruction forget the material road signs, traffic lights,
street lights ... and maintenance activities "provision of road equipment" that go with it.
Energy, Real Estate
Founded in 2005, the subsidiary Vinci Immobilier is still modest in the group since with a
turnover of 1.34 billion euros, representing only 3.6% of net Vinci.
He is a real estate development business. Commercialization of new buildings, residential
buildings, residential services (tourism, seniors, nursing homes, Business, students),
offices, shopping malls, hotels, Cit? du Cin?ma in Saint-Denis. There is also a property
management department (trustee, rental management ...) ... For residences, Vinci works
with specialized operating companies: Grand Bleu Vacances, Odalys N?m?a for tourism,
Ovelia for seniors, Vel?tudes for student residences ...
For real estate, Vinci is intended to the forefront of the "ecologically correct" it is
high-end residential, in BBC (Low Consumption Building), accessible "rental investment
Duflot" (tax-free) , including "eco-neighborhoods" as in Issy les Moulineaux,
"neighborhood combining innovative home comfort, technology and sustainable development"
after the pub. The selection of properties Vinci is set in sixty municipalities, including
the biggest cities: Paris / Ile de France, Lille, Lyon, Marseille, Toulouse, Montpellier
... Much more therefore grouped in the third cluster Vinci Energy recently become a
"great" sector: between 2005 and 2011, turnover has more than doubled, from 3.5 to 8.7
billion euros. This significant increase is due to what is called an "external growth" in
this case, the acquisition of Cegelec, by integrating the sovereign fund of Qatar, holder
of the company, the capital of Vinci (5 6%) All of the subsidiary, formally established in
2012, includes 1500 companies (including 600 abroad) and employs approximately 60,000
people. The place of those is a multitude of small and medium projects and interventions
in the areas of heating, air conditioning, lighting, wind farms, solar ... Again, Vinci
seeks to expand its model : Design-Build-Operate-installation-maintenance. In the
"Business Service" Vinci in the same spirit, created the sub-subsidiary Vinci Facilities,
offering technical maintenance contracts, equipment management and outsourcing of general
business services.
Concessions: a very profitable annuity
Vinci Concessions
Fourth business line, it includes Highways Vinci, Vinci Park, Vinci Airports, Stadium
Vinci, Vinci Railway. This is typically an industry similar to a cash economy: a cost of
purchase of the concession (notoriously undervalued Villepin for highways according to the
Court of Auditors) and maintenance tasks and maintenance, the Company must receive tolls
(drivers) and royalties (shops), rates of parking, airport taxes, a portion of the
proceeds from tickets in the stadiums and other venues Vinci ... highways began to exist
in 2005 with the privatization of most of the motorway network. Highways Vinci, which
includes ASF (south), Escota (Esterel), Cofiroute (West) and small Arcour (A19), manages
4,310 km of highways, or half 8 847 km conceded. Turnover: ? 4.4 billion in 2011. Two
figures to illustrate the role of golden goose. In 2012, highways accounted for only 11%
of the turnover of the Vinci group (which reached 38.6 billion), but they contributed 55%
of its operating income is 2 billion euros, and for 43% of profits (827 million and a net
profit of 1.917 billion euros).
Motorway concessions, the jackpot guaranteed. Toll rates are increasing (on average, twice
as much as inflation), and they further increase the busiest sections, so that the
turnover of the concession is growing so that traffic tends to stagnate in recent years.
Results of operations are also huge [4], especially as companies cut their labor costs by
automating tolls (93% toll revenues against 60% in 2006), and by not renewing many CDD So
without redundancy costs of recipients window [5]. Result, the motorway company slashed
debts for the acquisition of concessions and release rates consistent profits (24%
Cofiroute in 2009). Cost per kilometer is increasing. Revenue for the company per
kilometer increased by 18% for loads up 4.6% between 2005 and 2011. In 2012, a significant
drop in traffic was recorded on all highways (- 1.4% for light vehicles and -3.5% for
trucks) but the same year, revenues from motorway Vinci rose 0.6%, but this is not all.
Vinci Highways (like other dealers) want to increase their pension situation on the one
hand by extending the duration of concessions, the other pushing for the construction of
new highways.
In the first case, they simply declare invest in improving road safety (new coatings,
signs ...) for the extension of the state until 2030 and beyond, the duration of
concessions without his purse. Nothing could be easier: just bring up maintenance expenses
/ maintenance costs of investment, and it works. The other way is sought the construction
of new highways. But it becomes less simple since the completion of the A89
(Bordeaux-Lyon), there are many more major building. There are still many freeways as
circumvention of Strasbourg, but even then, nothing is certain: the state recently broke
the concession contract had been signed with Vinci ... apparently too expensive.
For now, most of the "big" projects new roads are off, except doubling the motorway
Lyon-Saint-Etienne and a small section in the Charente. The previous government did not
hesitate to include 732 km of additional lanes in the proposed National Scheme of
transport infrastructure (SNIT), adding to the existing 11,000. Already the "Grenelle de
l'Environnement" was a huge joke by putting "sustainability" in the nuclear and the
development of capitalism painted green, but even on questions of CO2 and ozone threatened
, everything is still to increase more traffic (and thus production) cars, trucks,
airplanes ... For now, this scheme is suspended motorway. But for years, a workaround is
in progress. The vein is sought to create new corridors trucks expanding two-way double
the existing roads. The elected representatives of the left and right (councils) and local
employers (Chamber of Commerce and Industry) on demand [6], the highway lobby lobbies.
Public finances are at their worst, the realization principle by Public Private
Partnerships is recognized [7]. It is therefore to privatize and to charge for the use of
highways become "quasi-highways." From May 2013, a portion of 104 kilometers of the N10 in
the Landes (between Bordeaux and Bayonne) will be paid by becoming a motorway, the A63,
granted to a subsidiary of Bouygues for a period of 40 years 400 million euros, under the
pretext of a progressive enlargement of 2X2 to 2X3 lanes on this stretch. There is no
alternative route, except to make a detour of 80 km Mont-de-Marsan or the coastal road ...
This type of processing is also planned in Sa?ne et Loire to finalize the European axis
called RCEA (Route Centre Europe-Atlantic) and a large lobby (Euro 21) works to
"autoroutiser" 400 kilometers from the RN 21 (Limoges- Lourdes via Agen, Auch and Tarbes),
which will give more weight to the old project developers piercing the Pyrenees to reach
Zaragoza. Beyond the concreting and asphalting extra (each kilometer of highway represents
the loss of 10 hectares of land) and facilities offered to the movement of trucks,
transplantation is another scandal, especially for people in rural departments concerned:
the absence of a free alternative route on the same course, that is to say, as in Greece,
the introduction of a racket mandatory, unless you make long detours through other routes,
sometimes secondary, narrow , poorly maintained, without markings [8] ...
Parking lots, airports, LGV, stadiums, theaters ...
The model of the concession, intends Vinci develop wherever possible and go as far as
possible in a situation of quasi-monopoly, developing in all directions on the "market
mobility" and mass entertainment. Whether we take the car, train, plane, and must be more
to pay his bill Vinci. To attend sporting events or major cultural events, such. For this
kind of business, "model" offers maximum profitability for an activity without risk. There
is indeed no need for marketing efforts, advertising to attract customers. They come of
themselves because of their needs to move. Just wait for the ATM exactly where they go,
where they pass by, stop, must park their vehicle to possibly take another means of
transport ...
Vinci Park, are 1.47 million parking spaces, including 470 000 in France (50% market
share) and a global leader in this business. The private parking management "in public
service delegation" target parking spaces paying road. They begin to bite into this market
by offering outsource billing systems in municipal car parks offering "solutions" more
"flexible" (but complex to implement) as payment by SMS. However, for legal reasons, they
can not go beyond. [9] But Vinci Park does not intend to be a "parking attendant". This is
to make an item in a "comprehensive approach to mobility." For the owner of Vinci Park,
Serge Clemente, "parking is a real hub of mobility solutions, an area of ??connectivity
between your car and other modes of transport". [10] End of 2012, VINCI Park has signed an
agreement with the landlord and Avis car rental site between individuals (known as car
sharing) Buzzcar (for 36,000 subscribers) or plans to make parking places carpool or
rental self-service mode Autolib. Tolls Vinci, it is also the "work for crossing" fee
bridges in Lisbon, Greece, Canada, tunnels Marseille in Amsterdam ...
Vinci Stadium:
Recent creation (2012). Stade de France in Saint-Denis, a new stage of Le Mans, Le Havre,
Bordeaux, Nice ... future stage) and rooms "multimodal" (for concerts and sporting events:
Nanterre Arena, Dunkerque ...). Future stage of Nice pretends to be made in connection
with the "Eco-Valley Plaine du Var" urbanization project from Saint-Laurent du Var north,
23 kilometers long, 10 000 hectares of extension and urban densification of the metropolis
of Nice C?te d'Azur. Vinci is also a financial partner and builder of the future stadium
in Lyon OL Land, but not operator.
Vinci Stadium is the creation of a national network of stages, as there are in the United
States with AEG and Global Spectrum, to market major sporting events (Euro 2016) or
cultural (concert tours) at international and national stages to places of consumption,
catering, recreation beyond the event itself. PPPs Vinci Stadium are as follows. Vinci
finance investment (construction or renovation) and receives in return the concession for
a period of from 35 to 99 years stage generally ownership of a local community. The club
resides in the stadium pays rent to the owner with a variable dependent on gate receipts.
The owner (municipality) shares a large part of this sum Vinci as operator. The football
club also pays directly Vinci fixed costs of maintaining the stadium, ensuring that the
company revenue constants for current expenditure. Finally, the concession allows Vinci
organize extra-sporting events such as shows and concerts.
Vinci Railway
For now, Vinci Railway is rather a virtual enterprise. It operates the tram Airport Lyon
(Saint-Exup?ry) and owns 60% of GSM Rail, a company providing communication system for
R?seau Ferr? de France. But the future LGV SEA (Tours-Bordeaux), built by Vinci, must be
operated in 2017 by a consortium in which a majority of Vinci. Here, it is clearly the HSL
project that truly launches subsidiary of Vinci.
Vinci Airports
Until recently, Vinci in France operated small regional airports: Grenoble, Chambery,
Clermont-Ferrand, Quimper, Rennes, Dinard, Ancenis, Saint-Nazaire, Poitiers and Nantes
existing airport. Over three airports in Cambodia. But again, things are accelerating. In
December 2012, the acquisition of the concession company ANA Portuguese manager 10
airports across the country, on the mainland, the Azores and Madeira Airports Vinci allows
change of scale. But it is especially the new airport project Nantes, Notre-Dame des
Landes who has become a showcase for the development of this market group Vinci airport,
design and construction (BTP) operation by Airports its subsidiary ...
The niche Vinci: the development of capitalism
Part of a national market hosted by the state and fed his public commissions, Vinci took
the turn of "globalization." Because the "market" of Vinci, is no other than the
capitalist development itself: construction of industrial facilities, commercial,
residential, energy, transport of goods and movement of people. In its propaganda, Vinci
speaks of a strategy to articulate local and global implementation work in the areas of
development requiring "an intimate understanding of codes, cultures, work habits countries
where we want to s implanting "and complementarities international human know-how to
develop this level of" operational synergies "and" have a desire to deploy centers of
expertise and skills. "[11]
However, the strength of Vinci is also its weakness. Beyond the risk of losing
occasionally a particular market to competition, the position of groups like Vinci remains
fragile, at least on one point: as capitalism itself, its existence depends on its
development. However, the constant development of Vinci and others is directly responsible
for the overall development of the economy, especially since they have done their market,
their slots. Their business is growing. The increasing mobility of people, trade,
transport, major sporting events, mass entertainment (parks, major concerts, tourism ...).
Infrastructure construction can be a time for an engine of development, but the future of
the continuous chain of these projects sooner or later becomes dependent on a general
environment. We know that to win public contracts or institutions, companies routinely
inflate the expected results and always underestimate capital costs. But the reality is
quite different: the costs explode in flight and the results are awaited. Incidentally,
this is what allows one to uncover the causes of the current crisis: the falling
profitability of capital, the use of debt, acquisitions, mergers, ongoing research funding
additional to those available (and the stock market capitalization of companies) ...
The current economic stagnation (recession in Europe, significant drop in the growth of
emerging countries) will automatically lead to a reduction activities that can not be
financed otherwise than by anticipation of future results favorable. But a crisis is not
only the bursting of a bubble sector is precisely this: a crisis of "growth prospects" or
"trust" as economists say. The crisis of capitalism is the crisis of its ability to
reproduce so extended, that is to say the major difficulties or impossibilities to meet
the requirements for a new cycle of growth, development, enhancement and capital
accumulation, mixing crisis of overproduction and profitability.
Even the "accumulation by dispossession" (mining and oil extraction, dams, industrial
monocultures, ownership of rare earths, Seabed capitalist valorization of urban or
suburban ... already built) meets its limits, among which are the struggles and collective
resistance that these projects and achievements encountered everywhere. The "accumulation
by dispossession" is defined by the Marxist geographer David Harvey, drawing on theories
of Rosa Luxemburg on the accumulation of capital. Basically, the scheme described by Marx
as "primitive accumulation" has never ceased, it is coextensive with the development of
capitalism in order to grow and expand, it still needs an "outside", territories of
resources, labor force "non-capitalist" material and immaterial things not yet inserted,
submissive, exploited and plundered his goods and productive dynamic value. In sum, the
process of accumulation and "expanded reproduction" of capital solely on the basis of its
productive sphere and the only intensified exploitation "internal" labor force is not
enough to capitalist expansion.
This "outside" of capitalism, which is supposed to enable development continues, almost
unlimited - if we ignore the objective limits, the finite "resources" available in its
natural state on the planet - n ' not oppose it without serious roadblocks. These multiple
struggles, these resistances prevent projects happen, get the closure of polluting
factories, mines open, forcing manufacturers to invest in the 'safety' and residents of
the neighborhood ... a set of oppositions, blockages and barriers that contribute to
increase costs of investment and operation.
Block projects Vinci and others, beyond all very good reasons expressed in current
resistance (looting of natural habitats, loss of farmland, metropolisation and
depopulation of rural areas, the imposition of a model of speed performance, competition,
consumerism ...), preventing the implementation of major infrastructure projects in
transport, energy, commerce, recreation ... are direct attacks against the development of
capital itself. But without continuous development, accumulation without constant movement
of capital flu, profit rates are falling, the creation of value (goods, money ...) is
compromised and may stop. So this crisis then breaks into a thousand pieces by promises,
needs and hopes that this "system" manufactures, supplies and on which it rests.
For the capitalist, the strategic issue of its destruction or collapse / Decommissioning
then sees reformulated asked differently, from another angle if we can say, by ceasing to
make capitalism, emphasizing its crisis, making it impossible redeployment and
simultaneously constructing spaces of struggle, development politics, life, material
independence, new sociality, indicating the possibility of a break with the system of
domination and dependence that connects us to the company capital and we attach as firmly
as sustainable.
The OCL P?rigord-Quercy January 24, 2013
Slightly modified text of an article published in two parts in the numbers 227 and 228
(February and March 2013) Alternating Current
Notes [1] Vinci Constructions, Annual Report 2011.
[2] Vinci Constructions, Annual Report 2010
[3] ibid.
[4] operating income is 41% according to the magazine Challenges, "How concreted Vinci's
model," May 3, 2012.
[5] The number of employees falling steadily increased from 9620 in 2006 to 7500 in 2012
without layoffs CDI but shot geographical mobility and forced reassignments.
[6] Similarly they all pushed to the construction of public funds, local airports, no
traffic except the daily flight - and loss - of a small airplane (60-80 places, sometimes
less) to Paris, that is to say, to satisfy the "mobility needs" some notables, elected
bosses ...
[7] "The national roads, a new bonanza," Liberation 21 July 2011. [8] In the Landes
department of drivers 'benefit' of a lower rate.
[9] PV are distributed by municipal police officers by delegation of the mayor. For
private companies to draw up, we should change the law, for example by transforming
Contraventions penalties as can eg banks. This is not an insurmountable problem.
[10] Les Echos, 22 January 2013.
[11] "The challenge Vinci change without betraying the Group's DNA," IDRH - The Blog, 2012.
[Insert]
The PPP model
The leap is to NDDL Vinci is also the type of concession under a Public Private
Partnership. Until then, Vinci and other French airports operate in "public service
delegation" (DSP). It is a delegation of operating a paid package indexed operating
income, investments remain the responsibility of delegating public. This type of contract
is similar to that of farming. With the concession of said partnership, a corporation
under public law transfers the load to the dealer financing, construction, maintenance and
operation of infrastructure for a contribution in the form of grants. But that's the
theory. In the contract "flagship" of the concession has obtained NDDL Vinci, more than
half of the investments made by public funds given under the contractual framework and the
"perimeter" of the PPP as it has been defined, excluding hundreds of millions of euros of
public spending "outside the scope" Vinci and guaranteeing performance (return) of 12% per
year in a contract period of 55 years.
Instead of public service delegations, compensation is not the result of operating
revenues but based on the criteria of "performance" of a facility so that the risk of
insufficient revenue is not supported by "partners "private, but the public partner
contract that pays" rent "in order to finance private bank loans and pay its shareholders.
On this point, it is the same pattern and the same issue with the Tours-Bordeaux
high-speed line. A PPP is a springboard and allows Vinci launched a new subsidiary,
Airports or Railway according to the case, without risk or cost inconsiderate, and make it
a showcase for commercial institutional clients worldwide.
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