The Directorate-General for Public Works and Water Management of the Netherlands (Rijkswaterstaat) selected the 3Angle consortium, comprised of Fluor, Heijmans Capital and 3i Infrastructure, for the development of existing and new infrastructure of the A27 (Utrecht - Hilversum) & A1(Hilversum - Bunschoten & Spakenburg) PPP project.

The project has a total value of approximately €220 million  (US$291 million).

The road project will involve, among others, the upgrade and redevelopment of the A-27 stretch from 2x2 to 2x3 lanes on the Utrecht-Noord - Eemnes section and the upgrade and redevelopment of the A-1 stretch from 2x2 to 2x4 lanes on the Eemnes - Bunschoten-Spakenburg section.

In early January we reported that three groups were shortlisted for the project:

• Poort van Eemnes: BAM PPP PGGM Infrastructure Cooperation U.A.
• 3Angle: Heijmans Capital, 3i Investments plc, Fluor Infrastructure B.V.
• Combination Eemhoek: Dura Vermeer, Besix Group, John Laing Investments, Rebel

3Angle consortium will be responsible for the design, build, finance an maintenance (DBFM) of the roads for a period of 25 years.

Fluor, Heijmans Capital and 3i Infrastructure will be the sole shareholders in 3Angle, each with an equal 33.3 percent share. 3i Infrastructure holds an 80% equity interest in Heijmans Capital, which gives it an effective 60% interest in the project. Financial close is targeted for October 2016.

Fluor and Heijmans will also participate in the engineering, procurement, construction (EPCM) and operation phase with equal shares.

Hans Dekker, president of Fluor’s Infrastructure business, said:

“Fluor has 15 years of experience working on significant PPP infrastructure projects in the Netherlands and we look forward to using this expertise to successfully deliver this important upgrade project.”

Ben Loomes and Phil White, Managing Partners and Co-heads, Infrastructure, 3i Investments plc, said:

“When closed, the Company’s investment in the A27/A1 primary PPP project will be its third investment in Dutch roads, following earlier investments in the A9 and A12 projects, under the government’s procurement programme. These transactions have resulted from our Infrastructure team’s partnership with Heijmans and we look forward to working with our local partners to identify further attractive investment opportunities.”