Turner & Townsend to advise lenders on two Dutch PPPs
Turner & Townsend is working on behalf of the lenders for these public-private partnership projects, providing full technical due diligence services to the lenders throughout the tender, financial close, construction and operational phases of the projects. Both projects were procured under design, build, finance, operate and maintain (DBFOM) contracts.
The Dutch A12 motorway PPP contract was awarded to Heijmans and 3i Infrastructure. The project 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.
The contract has a total value of over €80 million (US$109.5 million).
The Dutch social PPP project "Nieuwe Huisvesting RIVM en CBG" in Utrecht was awarded to a consortium formed by Strukton (37.5%), Hurks (37.5%), Heijmans (25%). The project includes two flexible, sustainable and energy efficient buildings: the National Institute for Public Health and the Environment (RIVM) and the Dutch Medicines Evaluation Board (MEB). Both institutes are part of the Ministry of Health. The contract is for a period of 25 years.
The contract has a net present value of nearly €267 million (US$361 million). This project achieved financial closure on 28 August this year. Senior debt to the project is being provided by BNG Bank, DekaBank Deutsche Girozentrale and AG Insurance SA/NV. Equity will be provided by Strukton Assets B.V., Hurks participatie I B.V. and Heijmans Capital.
Roland Verniers, Associate Director at Turner & Townsend commented:
Our dedicated international lenders advisory team is privileged to secure these major PPP commissions in the Netherlands, working closely with an international breadth of lenders who support the successful project sponsors. We are proud of the in-depth knowledge and insight we bring to the lenders and aim to stay focused and deliver the high quality services our clients have grown accustomed to across the globe.