Heijmans and 3i reach financial close on A12 road PPP
The contract is to widen the A12 motorway from 2×2 lanes to 2×3 lanes between the municipality of Ede and the Grijsoord intersection and to maintain this route for the next 16 years once it is completed. An improved traffic flow, less traffic jams and improved road safety are key-targets of the project.
The project will be developed on a design, build, finance, and maintain (DBFM) basis.
This integrated DBFM contract has a value of over €80 million (US$109.5 million). The project is financed by BNG Bank and KBC.
Heijmans has appointed Edmond de Rothschild as financial advisor, Stibbe as legal advisor, Aon as insurance consultant and Deloitte for tax & accounting. The financiers received advice from Linklaters (legal), Turner & Townsend (technical), Aon (insurance) and BDO (model audit).
The A12 is one of the most important motorways in Holland going from the Hague, in the West, to the German border in the East (about 140km). construction works are expected to start in early 2015 and the widening of the road will be completed by the end of 2016.
Rijkswaterstaat, the Dutch Directorate, General for Public Works and Water Management, has been the authority of the tender process for the Dutch A12 motorway PPP contract. It published in late June a prior information notice (PIN) for a PPP project to develop the new N18 Groenlo-Enschede highway. The project will be developed on a design, build, finance, operation and maintenance (DBFOM) basis for a period of 25 years after construction.