Aichi Road Concession, Inc. and the Aichi Prefectural Road Public Corporation (APRPC) signed on August 31 an agreement for the concession of a toll road in Aichi prefecture, in central Japan.
In July, the APRPC selected a Maeda Corporation-led team for the concession to operate eight toll roads. The winning team is made up of the following firms: Maeda Corporation (50%), Mori Trust (30%), Daiwa Lease (10%), Daiwa House Industry (2%) and Central Nippon Expressway Company (NEXCO Central Japan) (8%).
Aichi Road Concession, Inc., a Special Purpose Vehicle (SPV), was established for the operation, maintenance, collection of toll charges and traffic administration of the following eight roads:
The concession will end with the expiration of the toll collection period of each of the road licensed by the Minister of Land, Infrastructure, Transport and Tourism. The period varies from one road to another depending on when construction of the road is amortized by the Government.
The total revenue of the eight roads is approximately ¥17 billion (US$165.3 million) and none of the roads is making a loss.
Aichi Prefectures a prefecture of Japan located in the Chūbu region. It has a total area of 5,153.81 km2 and a population of approximately 7.5 million inhabitants.