BAM consortium reaches financial close on $1.2bn road project

A consortium including Dutch contractor BAM, French firm Eiffage and Germany’s Berger Bau has reached financial close on a $1.2bn deal involving the construction of a 33km motorway in Bavaria.

The consortium, which is called Isentalautobahn, also includes Dutch pension provider PGGM and Autobahndirektion Südbayern, the Bavarian state transport authority.

The project involves the design, construction, financing and maintenance of a four-lane stretch of the A94 autobahn between Pastetten and Heldenstein.

Construction will be carried out by BAM’s German civil engineering company Wayss & Freytag in cooperation with Berger Bau and Arge Eiffage.

In addition to the construction of the motorway the contract also includes the maintenance and operation of a 77km-long section of the A94 between Forstinning, near Munich and Marktl, including the newly built section.

The project will receive long-term financing from a number of sources, including the European Investment Bank, KfW IPEX Bank, DZ Bank, DekaBank and the Bayerische Landesbank.

The equity investors are BAM-PGGM Infrastructure Coöperatie, Berger Bau and Eiffage.

Construction will begin on 1 February with completion expected on 31 October 2019.

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