VINCI completed the financing of the PPP of the new B247 federal road in Germany
September 23 2021 - 12:15PM
VINCI completed the financing of the PPP of the new B247 federal
road in Germany
Rueil-Malmaison, 23 September 2021
VINCI completed the
financing of the PPP of the new B247 federal road in
Germany
-
First federal road to be built and operated under a PPP scheme in
Germany
-
A 30-year PPP representing a total investment of about €500
million
On 23 September 2021, VINCI Concessions
successfully completed – within a record time of two months - the
financing of the PPP contract for the new B247 federal road linking
the cities of Mühlhausen and Bad Langensalza, in the Free State of
Thuringia. The contract had been awarded in July 2021 by the DEGES,
the public body in charge of developing transport infrastructure in
Germany.
This 30-year PPP represents a total investment
of about €500 million, and covers the design, financing,
construction, maintenance and operation of the new 22-km road.
Design and build also include additional 6 km of crossing sections.
Income of VINCI Concessions will be based on availability
criterion, without any traffic risk (availability payment).
VINCI Concessions created a special purpose
company, which will be in charge of program management, future
operations and maintenance.
Works, estimated at around €350 million, will
begin on 1 October 2021 and will last about 4 years. The project
will be financed by €186.5 million of debt – mainly 30-year private
bonds – and grantor’s subsidy. Construction will be conducted by
VINCI Construction subsidiaries in Germany (Eurovia Deutschland and
VINCI Construction Terrassement). It will include the recycling and
reuse of up to 30% of asphalt and 100% of concrete from the
existing section.
With a daily estimated traffic of 15.000
vehicles, including around 15% heavy trucks, the new road will
fluidify mobility in North-East Thuringia, improve road safety and
the quality of life for the local residents by relieving traffic
from the existing road that crosses right through the neighboring
cities.
As the first German federal road ever attributed
to a private operator under a PPP scheme, this project also
reinforces VINCI Concessions’ leadership as Germany’s first road
concessionaire with 5 PPPs, in synergy with VINCI Construction's
local subsidiaries, including Eurovia Deutschland. In Germany, the
VINCI group employs more than 15,000 people with a network of local
companies some of which are more than 100 years old.
About VINCI
VINCI is a global player in concessions,
construction and energy businesses, employing more than 217,000
people in some 100 countries. We design, finance, build and operate
infrastructure and facilities that help improve daily life and
mobility for all. Because we believe in all-round performance,
above and beyond economic and financial results, we are committed
to operating in an environmentally and socially responsible manner.
And because our projects are in the public interest, we consider
that reaching out to all our stakeholders and engaging in dialogue
with them is essential in the conduct of our business activities.
VINCI’s ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general.
www.vinci.com
This press release is an official information
document of the VINCI Group
PRESS CONTACT VINCI Press Department Tel: +33 (0)1
47 16 31 82 media.relations@vinci.com
- CPVINCI_Concessions_bouclageB247_20210923_EN
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