Essen, 30 September 2021 – TA Europe has acted as Lenders Technical Advisor (LTA) for the winning Consortium of the B 247 PPP Project, led by VINCI Concessions Deutschland GmbH. The financing for this project has successfully been completed on 23 September 2021 – within a record time of two months.
It is the first time that a German Federal road project has been attributed to a private partner under a PPP scheme, in this case VINCI Concessions. The PPP Project B247 is supposed to connect Mühlhausen and Bad Langensalza, and is part of the B247 Federal road, which is supposed to connect the A38 with the A71.
A Special Purpose Vehicle Via Mühlhausen GmbH & Co. KG (SPV) is established in order to undertake all design, construction, partial operation, routine and heavy maintenance obligations of the project. Meanwhile, design and construction obligations will be subcontracted from the SPV to a Construction Joint Venture formed by VINCI Construction Terrassement, EUROVIA and Via Structure. Operational, routine and heavy maintenance obligations will remain under the SPV.
The Project comprises the construction of a 28.2 km greenfield road (two to four lanes) planned to start in October 2021 including junctions and intersections as well as the conversion of one junction. Additionally, a few crossings and parallel roads have to be constructed for 3rd parties (approximately 2 km of rural roads).
The Project bidding phase started already in the COVID-19 time and is another successful project in Europe where TA Europe has acted as a Lenders Technical Advisor (LTA).
As part of the Technical Due Diligence process, TA Europe made use of its newly developed and unique tools and software for the evaluation of the Equator Principles, ESG Criteria, Risk Analysis and Risk Assessment, as well as an Asset Management Strategy Analysis in order to provide the Lenders with profoundly analysed advice and confirm the bankability of the project.
TA Europe is pleased to have played a key role and to have contributed to the successful completion of the financial close. Now that the financing has been secured, the construction works can start – where TA Europe will also continue to support the Lenders with technical advice and the usage of unique IT technology to track the construction progress.