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Thu May 30 2024

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Royal BAM JV closes Dutch PPP road deal

22 Nov 12 Rijkswaterstaat and BAM/PGGM have reached financial close for a PPP project to double the width of the N33 Assen-Zuidbroek road in the Netherlands.

The contract involves design, building, financing and maintenance, with the construction valued at about €120m (£96m). Work will start in 2013, and the project will be completed in the spring of 2015.

The project team include BAM PPP, BAM Civiel, BAM Wegen and BAM Infratechniek Mobiliteit. It will be supported by BAM Infra Projectmanagement. 

BAM PPP secured the project with joint-venture partner PGGM; together, they will be providing their own capital. After the construction work has been completed, pension administrator APG will provide part of the loan capital, for which it will receive an inflation-proof fee. Commercial banks BTMU, KfW-Ipex and Rabobank are also involved. 

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