VINCI and Hochtief sign first A-Modell contract in Germany

17 October 2007 - New contracts - Germany

The Via Solutions Thuringia consortium, comprising VINCI Concessions and Hochtief PPP Solutions (50/50), has signed the A-Modell contract for the A4 Horselberg motorway in Germany between Gotha and Eisenach in Thuringia. The contract calls for the financing, design, construction and/or refurbishment of a 45 km section of motorway, followed by its operation under a public-private partnership (PPP) for 30 years. The contract, worth €300 million, will help to ease congestion on one of the most important east-west corridors in Germany.

The refurbishment (road widening) and construction work will take four years to complete by a consortium comprising Eurovia, project leader (1/3), Hochtief Construction (1/3) and several German SME (1/3).

The findings of the Federal Government’s initial project feasibility study suggested public sector funding of close to 50% of the cost of the project. This was reduced significantly in the final contract as a result of the financing proposed by the consortium. The project's funding is covered by the combination of a European Investment Bank (EIB) structured finance facility and a senior syndicated loan facility underwritten by Dexia Credit Commercial ("Dexia") and Halifax Bank of Scotland ("HBoS"). The banks have also provided an equity bridge.

The VINCI–Hochtief consortium is also competing for other A-Modell projects in respect of the A1 (Breem–Hamburg) and A5 (Rastatt–Offenburg) motorways.

 

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VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.