London-listed 3i Infrastructure, alongside Dutch and international developers, has been awarded a public private partnership (PPP) project to upgrade parts of the Netherlands’ A9 motorway.
IXAS Zuid-Oost, the winning consortium, also includes Ballast Nedam, Fluor and Heijmans, which like 3i Infrastructure own 25 percent of the project. The contract was awarded today by Rijkswaterstaat, the Netherland's directorate-general for public works and water management.
The project has a total nominal value of about €700 million. It involves the design, build, management, maintenance and financing of existing and new sections of the A9 motorway between the junctions of Holendrecht and Diemen in the region of Amsterdam.
This includes work to be undertaken on the bridge over the river Gaasp, the road surface on the A9 Gaasperdammerweg and the construction of an overground tunnel of about three kilometres, as well as a 20-year management and maintenance contract due to start upon completion of the construction phase.
The A9 Gaasperdammerweg project is the third section of the Schiphol-Amsterdam-Almere (SAA) to be expanded. The contract between IXAS Zuid-Oost and Rijkswaterstaat will be signed in September 2014.
The news comes as the Netherlands readies another large tender for later this year. Last June, Rijkswaterstaat unveiled plans for a PPP project to develop the new N18 Groenlo-Enschede highway, near the German border. The tender, which involves the construction of 44 kilometres of highway, is to be launched on 14 November 2014.
The A9 project is one of the largest PPPs won by 3i Infrastructure, which bought the infrastructure unit of UK lender Barclays in May 2013 for £780 million (€972 million; $1.3 billion) in an effort to boost its PPP investment capabilities.
The firm's portfolio also includes the Netherland's National Military Museum PPP, in which it invested €6.3 million in November 2013. The project is scheduled to complete in September 2014.