Financial close looms on Irish highways
The N11 highway PPP is to reach financial close first and PPP Bulletin understands the European Investment Bank, Bank of Ireland and Irish pension guarantees to be the project’s primary source of financing.
Sources believe the project will achieve close in late April this year, while the following N17-18 is expected to follow suit in June, utilising a similar combination of financiers.
A consortium featuring Balfour Beatty and BAM PPP was appointed preferred bidder in July 2011 and will procure the design, construction, operation and maintenance of approximately 16.5km of dual carriageway on the Arklow to Rathnew sections of the N11. The project also includes the design and construction of the N11 Gorey service area and the Newlands Cross upgrade.