BAM Balfour Beatty named preferred bidder for Irish road PPP
16 September 2010
The BAM Balfour Beatty consortium has been named as preferred bidder for the UK£ 250 million (€ 298.5 million) N17/N18 Gort to Tuam PPP Scheme in Ireland by the country's National Roads Authority (NRA).
The project includes the design, build, finance and maintenance of approximately 57 km of motorway between Gort (south of Galway City) and Tuam (north of Galway City), and forms part of the Atlantic road corridor.
The road has three grade separated junctions, including a major intersection with the new M6 Dublin Galway interurban motorway. The scheme also includes a roundabout, two railway bridges, five river bridges, 31 road bridges and several other structures.
The project will be funded by way of availability payments over the period of the contract of 25 years.
According to a statement by the consortium it is the National Roads Authority's intention to achieve financial close in the shortest time possible.
It is expected that work on the project will begin early 2011 and be completed by the end of 2014.