3i Infrastructure PLC New investment in the A27/A1 motorway (6832L)
05 October 2016 - 5:00PM
UK Regulatory
TIDM3IN
RNS Number : 6832L
3i Infrastructure PLC
05 October 2016
3i Infrastructure plc
3i Infrastructure plc announces investment in the A27/A1
motorway in the Netherlands
05 October 2016
3i Infrastructure plc ("3i Infrastructure" or "the Company")
announces it has committed to invest EUR6.5 million in the A27/A1
primary Public Private Partnership ("PPP") project in the
Netherlands. 3i Infrastructure is investing as part of a
consortium, 3Angle B.V. (3Angle), which also comprises Heijmans
Capital (a joint venture between Heijmans and 3i Infrastructure)
and Fluor Infrastructure.
3Angle has reached financial close for the A27/A1 primary PPP
project between Utrecht North, Eemnes junction and the
Bunschoten-Spakenburg interchange. Financial close follows the
provisional awarding of the project announced on 30 June 2016. The
project's contract value amounts to approximately EUR220 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. The equity is contributed
equally by the three 3Angle shareholders. As 3i Infrastructure
holds an 80% equity interest in Heijmans Capital, this gives 3i
Infrastructure an effective 60% interest in the project.
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.
Rijkswaterstaat, the Directorate-General for Public Works and
Water Management in the Netherlands, is undertaking this project to
improve traffic circulation and safety on the A27 and A1 motorways,
while respecting the surrounding 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.
Richard Laing, Chairman, 3i Infrastructure plc, commented: "This
investment adds to our growing portfolio of primary PPP projects,
alongside our economic infrastructure investments, and demonstrates
our ability to originate attractive investment opportunities
through our relationships with primary developers."
Ben Loomes and Phil White, Managing Partners and Co-heads,
Infrastructure, 3i Investments plc, added: "We are pleased to
announce the Company's investment in the A27/A1 primary PPP project
in the Netherlands. This is our third investment in Dutch roads,
following earlier investments in the A9 and A12 projects, under the
government's procurement programme. These transactions have
resulted from our Infrastructure team's partnerships with both
Heijmans and Fluor, and we look forward to working with our local
partners to identify further attractive investment
opportunities."
-Ends-
For further information, contact:
Thomas Fodor
Investor enquiries
Tel: +44 20 7975 3469
Email: thomas.fodor@3i.com
Toby Bates
Media enquiries
Tel: +44 20 7975 3021
Email: toby.bates@3i.com
Notes to editors:
About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended
investment company, listed on the London Stock Exchange and
regulated by the Jersey Financial Services Commission. The Company
is a long-term investor in infrastructure businesses and assets.
The Company's market focus is on economic infrastructure and
greenfield projects in developed economies, principally in Europe,
investing in operating businesses and projects which generate
long-term yield and capital growth.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc,
is authorised and regulated in the UK by the Financial Conduct
Authority and acts as Investment Adviser to 3i Infrastructure
plc.
About Heijmans
Heijmans is a listed company that combines activities related to
property development, residential building, non-residential
building and infrastructure in the areas of living, working and
connecting. Heijmans is active in the Netherlands, Belgium and
Germany and as a technology partner, delivers know-how and concepts
in various markets. Its constant focus on quality improvements,
innovation and integrated solutions enables it to generate added
value for its clients. Heijmans realises projects for private
consumers, companies and public sector bodies. With over 6,500
employees and almost EUR 950 million in revenues in the first half
of 2016, Heijmans is building the spatial contours of tomorrow. You
will find additional information on www.heijmans.nl.
About Fluor
Fluor Corporation (NYSE: FLR) is a global engineering,
procurement, fabrication, construction and maintenance company that
designs, builds and maintains capital-efficient facilities for its
clients on six continents. For more than a century, Fluor has
served its clients by delivering innovative and integrated
solutions across the globe. With headquarters in Irving, Texas,
Fluor ranks 155 on the FORTUNE 500 list with revenue of $18.1
billion in 2015 and has more than 60,000 employees worldwide. For
more information, please visit www.fluor.com or follow Fluor on
Twitter @FluorCorp.
This information is provided by RNS
The company news service from the London Stock Exchange
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