KfW IPEX-Bank, EIB, DZ BANK, CaixaBank and DBJ finance construction of a section of the A7 motorway
Main (ots)
- Expansion of transport infrastructure in Lower Saxony - PPP according to the A-model
An international consortium consisting of KfW IPEX-Bank, DZ BANK AG, DBJ (Development Bank of Japan Inc.), CaixaBank and the European Investment Bank (EIB) is financing the expansion of the A7 motorway between Bockenem and Göttingen. As a part of the 59.60 km project, 29.2 km of road will be expanded from four to six lanes and two major bridges crossing the A7 will be repaired. The project is expected to eliminate a bottleneck in transport infrastructure in the southern part of Lower Saxony and will contribute to strengthening trans-European networks (TEN-T), which are intended to improve cross-border connections within the EU by 2030. In addition to the construction works, the project includes management and maintenance of the entire section of the motorway.
Following an open international tender by German Federal Government, the rights to implement this public private partnership (PPP) project were awarded to a private sector consortium consisting of the globally renowned infrastructure investors VINCI and Meridiam. The project will form part of the A-model PPP programme, under which the Federal Government will make payments to the private contractor based on the availability of the road.
A total of EUR 420 million will be provided by loans from the participating banks. By providing this financing, in which KfW IPEX-Bank acts as the facility and security agent and DZ BANK as the account bank, the Funders emphasise their commitment to structured finance for infrastructure projects undertaken by the private sector. "We are very pleased to be collaborating with our respected and experienced business partners VINCI and Meridiam on another major German PPP," commented Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, on the project. "This instrument allows making optimal use of private investor liquidity while also involving the SME sector in order to upgrade and expand public infrastructure."
Construction is due to start in May 2017 and is expected to last 3.5 years. The project period for this PPP is 30 years. An information graph illustrating how PPPs work is available for download on our website www.kfw-ipex-bank.de
About KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
About CaixaBank
CaixaBank is Spain's leading bank by market share. It operates in retail banking and insurance, while also holding investments in international banks and prominent services companies. The bank, presided over by Chairman Jordi Gual and CEO Gonzalo Gortázar, serves close to 14 million customers and has a network of 5,027 branches. CaixaBank has been recognised as "Bank of The Year in Spain 2016" by British magazine The Banker, part of the Financial Times Group, and was also awarded by The Banker as the world's best technology project for imaginBank launch. The bank, one of the most sustainable in the world, according to the Dow Jones Sustainability Index, was also honoured by Euromoney as the "Best Bank for CSR in Western Europe" in 2016.
DZ BANK AG is the second largest bank in Germany. It is the central institution in the cooperative financial network and serves approx. 1,000 cooperative banks (and their 11,000 branch offices), each of which is a stakeholder in DZ BANK AG and which together own the majority stake. As "DZ BANK. Die Initiativbank", it is also active as a corporate bank and is the holding company for the specialised service providers in the DZ BANK Group: Bausparkasse Schwäbisch Hall (building society), DG HYP (commercial real estate finance), DZ PRIVATBANK, R+V Versicherung (insurance company), TeamBank (consumer finance), Union Investment Group (asset management), VR Leasing Group, WL BANK (real estate and public sector financing) and various other specialised institutions. With its extensive range of financial products and services, the DZ BANK Group supports the local cooperative banks in Retail Banking, Corporate Banking, Capital Markets and Transaction Banking.
Press contact: KfW IPEX-Bank GmbH Dela Strumpf Kommunikation Tel +49 69 7431 2984 Fax +49 69 7431 85 36 dela.strumpf@kfw.de www.kfw-ipex-bank.de
European Investment Bank Christof Roche c.roche@eib.org Tel.: +352 43 79 89013 Mobile: +32 479 65 05 88 Press Office: +352 4379 21000 press@eib.org www.eib.org/press Follow us on Twitter @eib
CaixaBank Communication and External Relations Tel: +34 93 404 2414 prensa@caixabank.com http://www.caixabank.com/comunicacion
DZ BANK AG Eberhard Roll Spokesperson Tel. +49 211 778-1108 eberhard.roll@dzbank.de
Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: axel.breitbach@kfw.de
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info@kfw-ipex-bank.de,
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