Financial close for Aberdeen bypass NPD

The Scottish government has confirmed financial close of the Aberdeen Western Peripheral Route (AWPR) non-profit distributing (NPD) project.

Infrastructure minister Keith Brown has confirmed completion of the deal with the Aberdeen Roads consortium, formerly known as Connect Roads, as the mandatory standstill period has now passed.

Funding for the project is coming from the European Investment Bank, a bank-term loan and a group of investors managed by Allianz Global Investors.

“I’m delighted the deal to deliver the Aberdeen bypass construction is now sealed,” said Brown. “While the overall estimated scheme costs remain at £745m, the contract value, which is around £550m in net present value terms, is almost £220m less than the pre-tender estimate and amounts to a reduction in payments over the life of the contract of approximately £26.5m per year.”

He added that the airport junctions and Balmedie sections will be delivered early.

“I can confirm today our intention that the Craibstone and Dyce Junctions are now expected to finish by autumn 2016, and the Balmedie-Tipperty section by spring 2017,” he said.

The AWPR scheme will see the design, construction, finance, operation and maintenance of the 46km dual two lane bypass, plus the 9km dual two lane A90 Balmedie-Tipperty Improvement. The Aberdeen Roads consortium is comprised of Balfour Beatty, Carillion and Galliford Try.

For more information on the scheme, click here.