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| Hochtief consortium reaches financial close for A7 in Schleswig-Holstein and Hamburg A consortium comprising Hochtief Solutions subsidiary Hochtief PPP Solutions GmbH, the institutional investor, Dutch Infrastructure Fund, and KEMNA BAU Andreae GmbH & Co. KG has concluded its financing negotiations - i.e. reached what is known as financial close - for the A7 public-private partnership project (PPP) in Schleswig-Holstein and the Free and Hanseatic City of Hamburg, as planned. The consortium will plan, finance and upgrade some 65 kilometers of the A7 federal highway between the Hamburg-Northwest and Bordesholm intersections, and will operate and maintain a section between Hamburg and Neumünster for 30 years. The construction costs amount to around EUR 600 million. Hochtief PPP Solutions is the majority shareholder in the project company, Via Solutions Nord GmbH & Co. KG, with a stake of 49 percent; DIF and KEMNA BAU have shareholdings of 41 and ten percent respectively. The project involves widening the said section of the highway from six to eight lanes, and also includes the construction or refurbishment of 49 bridges. In addition, a noise protection tunnel is to be built in the section at Schelsen. A new highway maintenance depot - which will also be the headquarters of the operating company - will be constructed in the community of Nützen, at the Kaltenkirchen interchange. Preparatory construction work is expected to start in October. The construction work, which will be handled by a joint venture between Hochtief Infrastructure, KEMNA BAU and KEMNA subsidiary, Tesch Straßenbau GmbH & Co. KG, will take around four years. Once completed, an approximately six-kilometer section between Neumünster and Bordesholm will be handed over to the federal state of Schleswig-Holstein. The remaining 59 kilometers will be operated and maintained by the partners until 2044. write your comments about the article :: © 2014 Construction News :: home page |