Press Releases 2009

January 20, 2009

Privately-financed motorway project for €340 million: Bilfinger Berger reaches financial close in Scotland

Bilfinger Berger will be starting work on another major privately-financed transport project in 2009. A consortium under the leadership of the construction and services Group has been selected to expand a section of the M80 motorway to the north of Glasgow, Scotland on the basis of a concession model. Bilfinger Berger holds an 83% stake in the concession company, with the remaining 17% held by local partners. Investment volume for the project amounts to €340 million and the Group’s equity commitment totals €44 million.

The consortium is responsible for the design, financing and construction of the motorway section. Over a 10-kilometer stretch, the existing motorway will be expanded to six lanes, a new eight-kilometer section will be added and, in addition, seven motorway junctions and 60 civil engineering structures will be built. Once construction is completed, the project company will operate the section of motorway over a period of 30 years. During this time, the company will ensure the availability of the route in return for contractually-fixed payments from the state.

“The financial crisis has undoubtedly led to difficulties in the financing of new projects, but we are only involved in projects based primarily on availability models with transparent risks for participating parties. We therefore believe that opportunities to further expand our portfolio and generate attractive returns will continue to present themselves in the future”, said Herbert Bodner, Chairman of the Executive Board at Bilfinger Berger.