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.
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.
Heijmans is a listed company that combines activities related to property development, residential building, non-residential building, roads and civil engineering in the areas 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. Our constant focus on quality improvements, innovation and integrated solutions enables us to generate added value for our clients. Heijmans realises projects for private consumers, companies and public sector bodies. With almost 6,500 employees and close to 950 million in revenues in the first half of 2016, we are building the spatial contours of tomorrow. You will find additional information on www.heijmans.nl
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.
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 our 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 us on Twitter @FluorCorp.
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Source: Heijmans NV via Globenewswire