BAM PPP - Iridium consortium wins M11 PPP in Ireland
The National Roads Authority (NRA) of Ireland has selected a team composed by BAM PPP, PGGM and Iridium (ACS) as the preferred bidder for the M11 Gorey to Enniscorthy PPP Scheme.
The team beat out competition from the two other shortlisted bidders: a team formed by Sacyr and Jons Civil Engineering and another team formed by Cintra and Meridiam.
The project involves the construction of about 40 km of new roads. The project is exclusively greenfield. It will include:
- 27 km of standard motorway (M11 route),
- approximately 0.6 km of Type 3 dual carriageway (N11 route),
- 4 km of Type 2 dual carriageway (N80 Link route) and
- 8 kilometres of standard single carriageway (N30 route).
The project will be developed on a design, build, finance and operation (DBFO) basis.
The total project investment is estimated at €200 million (US$227.8 million). The European Investment Bank (EIB) announced in October this year that it was considering financing the project but the amount to be provided by the EIB was not disclosed.
In December 2015, the same consortium, composed by BAM PPP, PGGM and Iridium (ACS group), won the tender process for the N-25 New Ross Bypass PPP project, also in Ireland. The N-25 New Ross Bypass includes the construction of sections of both the N-25 and N-30 routes. The total project investment is estimated at €215 million.
The EIB financed recently financed the new N17/N18 road between Gort and Tuam in Galway County. The institution provided €144 million over 26 years for the scheme. The overall cost of the scheme is estimated at €550 million.
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