Motorway Loan Agreed
01 May 2008
More than € 600 million in loans has been secured by the Gdansk Transport Company - a consortium of the UK's Laing, Sweden's Skanska BOT, South Africa's Intertoll and Polish property developer NDI - to finance a new PPP motorway in Poland.
The consortium will use a € 500 million loan from the European Investment Bank and a € 140 million loan from the Nordic Investment bank to fund the € 700 million construction of the 90 km A1 motorway between Gdansk and Nowe MArzy.
Construction of the A1 Motorway - part of the European Corridor VI linking the Baltic Sea with the Czech Republic, Slovakia and Austria - is due to be completed by November 2008.
The Gdansk Transport Company will operate the road for 30 years following its opening. The route will be paid for by the Polish Road Authority through guaranteed basic payments for access and shadow tolls.
