Vinci loses Strasbourg contract

06 June 2012

The French government has withdrawn Vinci's preferred bidder status for a €750 million project to build a bypass in Strasbourg.

In January, the French Ministry for Ecology, Sustainable Development, Transport & Housing shortlisted the contractor for the A355 western Strasbourg bypass concession.

The 55-year contract covered the design, financing, construction, operation and maintenance of a new 24km section of toll motorway and was expected to take 52 months.

In a statement, Vinci denied that it was abandoning the project. "Vinci has been informed by the State of its decision to withdraw its status as preferred bidder for the A355 western Strasbourg bypass concession contract.

"Vinci takes note of this decision and points out that several banks had already confirmed their participation in the financing of the project. The extension of the preferred bidder status beyond 28 May, 2012, would have enabled the last two financial institutions to confirm their participation in the project and finalise the financing arrangements within the maximum authorised timeframe," the contractor said.

Latest News
Cummins promotes five to VP positions
Leaders in multiple business segments appointed to expanded roles
Axolift enters Poland with new distributor
Time is right for expansion of low level access in the country, says OEM
Makinex to distribute HG in North America
Deal follows similar agreement for Australia