3i Infrastructure has committed to invest €6.5 million in the A27/A1 primary Public Private Partnership 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 €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. 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.