BAFOs Submitted for Beatrix Lock PPP

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BAFOs Submitted for Beatrix Lock PPP

The three shortlisted teams have submitted financial best and final offer (BAFO) for the Beatrix lock public private partnership (PPP) project in the Netherlands.

The BEA3X consortium is composed of BAM PPP, VolkerInfra and DIF. In support of BEA3X consortium's bid, Operis provided modelling and financial advisory services. The two other consortia are composed of Besix & Rebel Group; and TBI & CFE & Dredging International, being the last consortium advised by KPMG.

The promoter of the project is Rijkswaterstaat, which is part of the Dutch Ministry of Infrastructure and Environment. The preferred bidder is expected to be announced in November 2015.

The project consists of the construction of a third and larger lock adjacent to the existing Princess Beatrix lock complex in the Dutch municipality Nieuwegein and the widening of the Lek Canal, including additional berthing space.

In ealry June this year we reported that the EIB indicated that it may provide up to 50% of the senior debt requirement for the project. The remaining 50% will be provided by commercial funders.

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