Macquarie Capital, Cintra chosen for €1.7bn Slovakia PPP

The duo are part of a team that has trumped groups involving DIF and John Laing to win the country's second-ever PPP.

A consortium formed of Australia’s Macquarie Capital, Ferrovial subsidiary Cintra and Austria-based developer PORR has been selected as preferred bidder for Slovakia’s D4-R7 expressways project.

The winning firms were part of four teams shortlisted for the public-private partnership (PPP), which also included a team comprising Meridiam Infrastructure (Meridiam) and Vinci, a group involving Hochtief, Iridium, ACS, and DIF, and a consortium including Strabag, John Laing, and Reding.

The chosen consortium bid for an annual payment of €56.72 million. The second-lowest offer came from Meridiam and Vinci, at €69.01 million.

The European Bank for Reconstruction and Development is considering contributing to the financing with a cheque of about €150 million.

The 30-year project involves the construction, maintenance and operation of 27 kilometres of the D4 highway and 32 kilometres of the R7 expressway, while the concession contract has an estimated value of €1.7 billion. Total project investment comes at €1.4 billion.

The D4 is the southern section of the Bratislava ring road. The R7 is part of the network linking Slovakia’s western regions to the country’s east.

It is the second PPP ever awarded in Slovakia after the R1 Expressway, a project awarded to a Meridiam-Vinci consortium in 2009 and which completed a €1.2 billion refinancing in November 2013.