Macquarie team provisionally awarded major Dutch tunnel PPP
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Rijkswaterstaat (The Directorate-General for Public Works and Water Management of the Netherlands) has the intention to award the A24 Blankenburg Tunnel PPP to BAAK Blankenburg-Verbinding, a consortium consisting of Ballast Nedam, DEME en Macquarie.
The Blankenburg Tunnel PPP involves the development of a 4.2km tunnel under the Nieuwe Maas River connecting the A20 and the A15 . The tunnel leads (from the north to the south) from the A20, which lies to the west of Vlaardingen, along the Krabbeplas, underneath the Nieuwe Waterweg (‘het Scheur’) and will be connected to the A15 to the east of Rozenburg.
Furthermore the project consists of the construction of two junctions (of the A24 to the A20 and the A15) and the widening of the A20 between the A24 and the Kethelplein.
Following this provisional award, the other tenderer may object to Rijkswaterstaat's intention in the so-called Alcatel period. If no objections are submitted, the final award will follow.
The private party will be responsible for the design, build, management and maintenance for a period of 20 years of the existing and new infrastructure. The project involves a total investment of €1 billion (US$1.16 billion).
BAAK Blankenburg-Verbinding team is being advised by Macquarie Capital.
As we reported in early 2017 the EIB approved a provision of a loan to the scheme through its European Fund for Strategic Investments.
Pels Rijcken and PwC are respectively acting as legal and financial advisors for Rijkswaterstaat.
The project originates from Masterplan Rotterdam Vooruit (2009), a vision of the development of the Rotterdam region that covers the period 2020-2040. The area is characterized by rural surroundings on the northside of ‘het Scheur’ and on the southside by industry and homes. The construction of an overground tunnel will reduce the barrier function and at the same time increases the liveability of the area. Het Scheur will be crossed by a tunnel made of zinc.
