€1 Billion Blankenburg Connection Project Reaches Financial Close

The BAAK consortium – Macquarie Capital (70 per cent of SPC), Ballast Nedam (15 per cent of SPC) and DEME (15 per cent of SPC) – yesterday reached financial close on the €1 billion Blankenburg Connection PPP project in the Netherlands.

The Blankenburg Connection is a design, build, finance and maintain (DBFM) project which will improve road links between Rotterdam and its port – and is the largest PPP project awarded in the Netherlands to date.

According to an official announcement, “the BAAK consortium was selected as the preferred bidder for the project by the procuring authority Rijkswaterstaat in August 2017, reaching Contract Close in December 2017. Since then, the consortium has further developed the designs and obtained the required permits. Following the effective Route Degree in July 2018, the consortium commenced construction on 1st September 2018, and successfully reached Financial Close on October 17.”

The EPCM consortium consists of an integrated JV between Ballast Nedam Infra and the DEME Group companies DIMCO BV and Dredging International.

Under the agreement, Dredging International will perform the trench dredging and nautical works, and DIMCO will perform the immersion works of the tunnel elements on the busy fairway to the Port of Rotterdam.

About the project

The A24 Blankenburg connection is a large and complex project, fitting a three-lane highway in-between two existing highways.

The project involves the Design, Build, Finance and Maintenance (DBFM) of a new highway connection of approximately 4 km (linking the A15 and the A20 roads, to the west of Rotterdam) including a land tunnel of c. 500m (Holland Tunnel), an immersed tunnel of c. 900m (Maasdelta Tunnel), two major flyovers and the widening of the existing A20.

Following a construction period of 5.5 years, the consortium will then maintain the new road connection for 20 years.

Currently, preparatory works have started on site to create access on land and water.