Press Releases 2005

December 12, 2005
Major concession project in North America: Bilfinger Berger appointed preferred proponent for bridge project in Vancouver

Bilfinger Berger is further expanding its concessions business in North America. A concession company wholly-owned by the Group has been appointed preferred proponent to realise a major new bridge connection near to the Canadian city of Vancouver. Whilst the final project value will not be known until financial close, the currently estimated project value is in the order of C$800million (€580million).

The primary feature of the project is the design, construction, financing and long-term operation of a new 1,000 meter bridge across the Fraser River, together with three kilometers of elevated highway and nine kilometers of connecting roads. Construction will be undertaken by a joint venture led by Bilfinger Berger. When the project is completed, the concession company will then operate the crossing for a period of 32 years in return for a fixed fee paid by the Greater Vancouver Transportation Authority (TransLink).

This is the second recent success for the concessions business of Bilfinger Berger in North America. In November, another concession company wholly-owned by the Group has signed a 25-year contract for the design, finance, construction, rehabilitation and maintenance of a 26-kilometer section of the Trans Canada Highway across the Kicking Horse Pass in the Rocky Mountains. This project volume amounts to €100million.

With these successes in North America, Bilfinger Berger has now established another major market for its concessions business - in addition to the previous strong focus on markets in the United Kingdom and Australia. The Company is following a long-term growth strategy in this business segment. Despite still being in a relatively early stage of maturity, the value of the Company's portfolio is already well in excess of the book value of paid-in equity committed. Bilfinger Berger again expects a positive value-added from its concessions business in fiscal year 2005.