Project Information
Project name: UK: Aberdeen Western Peripheral Route
Project description:

The Aberdeen Western Peripheral Route (AWPR) “bundle” comprises the design, construction, finance, operation and maintenance of:

  • the 46km dual two lane Aberdeen Western Peripheral Route (AWPR). This will provide access to key locations in Aberdeen and will be a bypass for traffic to and from other parts of the North-east.
  • the 9km dual two lane A90 Balmedie-Tipperty Improvement. This will complete the missing link in dual carriageway between Aberdeen and Ellon.

The project includes associated slip roads, side roads, junctions, structures, culverts and associated works.

The £745m Aberdeen Western Peripheral Route - Balmedie - Tipperty project reached financial close on 12 December with over £600m of funding sourced from a combination of senior secured fixed-rate bonds, senior commercial debt and equity bridge facilities.

The European Investment Bank (EIB) is providing a £270m senior bank loan. Allen & Overy were advisers to the EIB.

MUFG, Royal Bank of Canada and Barclays are providing £80m of senior commercial debt and £60m equity bridge facilities. Norton Rose Fulbright and Shepherd and Wedderburn advised the funders to the Aberdeen Roads consortium, led by Balfour Beatty.

Allianz Global Investors made a £193m investment from AllianzGI’s UK Infrastructure Debt fund through listed bonds privately placed with UK public and private sector pension funds, EU pension funds and insurance companies and Japanese insurance companies.  

The Anglian Water Group Pension Scheme, the London Borough of Haringey Pension Fund and Nippon Life were among the investors. The bonds are listed on the Luxembourg Stock Exchange. HSBC is bond trustee and Bishopsfield Capital Partners is the bond monitoring adviser.

Operis and Pinsent Masons advised the Connect Roads consortium now called Aberdeen Roads, which also included Carillion and Galliford Try. 

The new 58km road will offer improved travel in and around Aberdeen.  The project uses the NPD model was awarded to the Connect Roads consortium by Transport Scotland, Aberdeen City Council and Aberdeenshire Council. Construction on the bypass is to be completed in 2017.

Related headlines:

16 December 2014 - Further details emerge for Scottish road PPP 

12 December 2014 - Financial close for Aberdeen bypass NPD 

28 November 2014 - Aberdeen bypass NPD deal agreed 

11 August 2014 -  Early works start on Aberdeen bypass
11 June 2014 - Winner for Aberdeen bypass
07/05/2013 - Shortlist, funding in place for Aberdeen bypass
23/01/2013 - Aberdeen tenders roads NPD
19/10/2012 - Court backs Aberdeen bypass
12/10/2012 - £2.5bn Scottish pipeline updated

Type: PPP
Sector: Roads & streetlights
Region: UK - Scotland
Current status: Project Signed - 12/12/2014
Contract Terms
Duration: 30 years
Capital value: £745.00m
Public Sector Procuror Details
Authority/Commssioning body: Transport Scotland and Aberdeen City Council
Public sector contact: John Wilson
AWPR Managing Agent
Tel: +44 (0)124 433 2322
E-mail: awpr@aberdeencity.gsx.gov.uk

Head of Legal & Democratic Services
Tel: +44 (0)122 466 5650
E-mail: CPUcityshire@aberdeencity.gov.uk

Alan Gorham or Zoe Ogilvie
Media, The BIG Partnership
Tel: +44 (0)122 461 5000
Email: alan.gorham@bigpartnership.co.uk / zoe.ogilvie@bigpartnership.co.uk
Private Sector Details
Consortium name: Connect Roads (Aberdeen Roads Limited)
Private sector shareholders: Balfour Beatty - Shareholders
Carillion - Subcontractor - Construction
Galliford Try - Subcontractor - Construction
Private sector advisors: Operis - Other Advisor
Pinsent Masons - Legal Advisors
Norton Rose Fulbright - Legal Advisors (Funders)
Allen & Overy - Legal Advisors (EIB)
MacRoberts - Legal Advisors
Private sector debt-providers: European Investment Bank - Debt Providers
Allianz - Debt Providers
Mitsubishi UFJ Financial Group - Debt Providers
Barclays Group - Debt Providers
Royal Bank of Canada - Debt Providers
Shepherd & Wedderburn - Legal Advisors
HSBC - Debt Providers (Trustee)
Bishopsfield Capital Partners - Other Advisor (bond monitoring adviser)
Private Sector Shortlist
Consortium name: Granite City
Private sector shareholders: Macquarie Capital - Shareholders
FCC Construction SA - Shareholders
Kier Group - Shareholders
Dragages - Shareholders
Consortium name: North East Roads Partnership
Private sector shareholders: Cintra SA - Shareholders
John Laing - Shareholders

This page was last updated on:
23 November 2015.

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