Financial close achieved for USD589 million road PPP project in Germany
VINCI Concessions has completed the financing of the B247 federal road PPP project in Germany. The road will link Mühlhausen and Bad Langensalza in the Free State of Thuringia.
DEGES has awarded the project's contract in July 2021 to VINCI for a period of 30 years. With a total investment of about EUR500 million (US$586.17 million), the contract covers the design, financing, construction, maintenance and operation of the new 22-km road. Design Income of VINCI will be based on availability criterion, without any traffic risk (availability payment).
Construction work, estimated at around EUR350 million (US$410.32 million), will start on 1 October 2021 and will last for 4 years. They will be conducted by Eurovia Deutschland and VINCI Construction Terrassement (VINCI construction subsidiaries). The project will be financed by EUR186.5 million (US$218.64 million) of debt and grantor’s subsidy.
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.
Country news
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