A1 Phase 1, Investment in concession

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Discipline: DBFOM
Sector: Infrastructure (Motorways)
Client: Ministry of Infrastructure
Value: Euro 675 million
Commercial Close:August 2004
Financial Close: September 2005
Concession Period: 35 years
Status: ongoing
Description: Investment
Debt: Equity: 95:5
European Investment Bank (EIB) €500 m
Nordic Investment Bank (NIB) €132 m

The A1 Motorway in Poland extends from Gdansk in northern Poland to the Czech Republic border and is part of European Road E75 which provides access to Southern Europe. Intertoll had a pivotal role in the successfully signing of the Concession Agreement in 2004 and achieving financial close in 2005.

Phase 1 comprises the design, build, financing, operations & maintenance of 90 km of tolled motorway between Gdansk and Nowe Marzy.

Intertoll Capital Partners (ICP an Aberdeen – Intertoll JV) is a 15% shareholder in the Concession Company GTC (Gdansk Transport Company).

Intertoll provided the Project Director up to financial close and was instrumental in satisfying the EIB funding criteria in respect of EIRR and, together with the State Treasury, the environmental issues.

Intertoll led the team that negotiated the Concession Agreement and Finance Contracts.

The government of Poland agreed to provide a state treasury guarantee to the Lenders to facilitate financial close of the project.