Financial close A27/A1 PPP motorway project
5 October 2016, 08:00
3Angle B.V., comprising of Heijmans Capital (a joint venture of Heijmans and 3i Infrastructure), 3i Infrastructure and Fluor Infrastructure, has reached the financial close for the A27/A1 public private partnership (PPP) project running between Utrecht North – Eemnes Junction and the Bunschoten-Spakenburg interchange. The financial close follows the provisional awarding of the project announced on 30 June 2016. The project’s contract value amounts to approximately € 220 million (including management and maintenance for a period of 25 years).
Achieving this milestone means that the required financing for the project has been secured. The financing consists of both loan capital and equity. The loan capital is provided by DZ Bank AG, ING Belgium SA/NV, KBC Bank NV, Nederlandse Waterschapsbank N.V. and Sumitomo Mitsui Banking Corporation. KBC Bank NV also serves as the agent of the financiers. The equity is contributed equally by the three 3Angle shareholders.
3Angle is responsible for the financing, design, construction, management and maintenance, of the reconstruction of the A27 motorway between Utrecht North and the Eemnes junction, as well as of the A1 motorway between the Eemnes junction and the Bunschoten-Spakenburg interchange. Fluor and Heijmans will provide engineering, procurement, construction (EPCM) services and operation phase with equal shares.
Improve traffic circulation and safety
Rijkswaterstaat, the Directorate-General for Public Works and Water Management, is undertaking this project to improve traffic circulation and safety on the A27 and A1 motorways, while respecting the surrounding natural environment. The project includes the widening of the A27 from 2x2 to 2x3 lanes, as well as the widening of the A1 from 2x2 to 2x4 lanes. 3Angle will also widen the A27-A1 connecting curve within the Eemnes junction.
Construction is due for completion by the end of 2018 when the 25-year maintenance period will commence.