Bratislava Ring Road D4-R7: Commercial close completed

The consortium Obchvat Nula of Cintra, Macquarie Capital and PORR AG has reached commercial close.

Bratislava, 24 May 2016 – Obchvat Nula, a consortium formed of Cintra, Macquarie Capital and PORR AG, has successfully reached commercial close on the Bratislava ring road D4-R7, one of Central Europe’s largest PPP infrastructure projects. Commercial close has occurred after the Slovak Ministry of Transport selected the consortium as preferred tenderer in early February. The project has an estimated total investment circa EUR 1 billion and involves almost 60 km of road. Financial close is anticipated within the next weeks.
 
The project D4-R7 involves the construction of a section of 27km of motorway (D4) between Jarovce and Raca and an approximately 32km-long section of expressway (R7) between Prievoz and Holice.
 
Under a concession model, the Spanish-Australian-Austrian trio are responsible for the design, complete construction, financing, operations and maintenance of the project. The Design & Con-struction Joint Venture is formed by Ferrovial Agroman and PORR Bau GmbH. Construction work is expected to finish in around four years, after which the 30-year concession for operations and maintenance will come into effect. Macquarie Capital is financial advisor to the consortium.
 
Facts and figures at a glance
 
Project type: Road
Length: 27 km section of motorway and 32 km section of expressway
Estimated total investment: Around EUR 1bn.
Concession-holder: Cintra, Macquarie Capital and PORR AG
Contractor: Ferrovial Agroman and PORR Bau GmbH
Construction start: 2Q/3Q 2016
Construction end: 4Q 2020
Scope: Design, construction, financing, operations and maintenance (30 years)

About Ferrovial
Ferrovial is one of the largest global infrastructure operators and city services managers, and is com-mitted to developing sustainable solutions. The company has 74,000 employees and a presence in around 20 countries. Ferrovial´s activities focus on four business lines: Services, Highways (Cintra), Construction and Airports.
Cintra, a subsidiary of Ferrovial, is one of the leading private developers of transport infrastructure in the world in terms of number of projects and investment volume. With a total investment of 19,600 million euros, it is active in Canada, United States, Australia and Europe. Nowadays, Cintra manages a portfolio of 27 concessions with a total of 1,920 kilometers. These assets include the 407 ETR highway in Canada; North Tarrant Express, in the U.S., and Ausol in Spain.
 
About Macquarie
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 64 office locations in 28 countries and employs more than 14,300 people.  Assets under management total approximately £256 billion at 31 March, 2016.
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. Macquarie Capital provides strategic M&A and capital raising advice as well as partnering with clients by investing capital into their projects and companies. Over the last five years Macquarie have
advised or acted as Sponsor on over €30 billion worth of PPP projects and financings around the world.
 
About PORR
PORR was founded in 1869 and has been listed on the Vienna Stock Exchange ever since, making it one of Austria’s oldest listed companies. Today PORR is the largest construction company in Austria and one of the leaders in Europe. As a full service provider, the Group covers every area of the modern construction industry in building construction, civil engineering, infrastructure construction and environmental engineering: from planning, financing and construction through to operations. Whether it’s residential construction or complex infrastructure projects – PORR realises projects of every size. In terms of geography, PORR focuses its activities on Central and Eastern Europe as well as selected international markets such as Qatar. PORR offers its full range of services on its home markets of Austria, Germany, Switzerland, Poland and the Czech Republic. With over 14,000 employees, PORR generated production output of around EUR 3.5 bn in the business year 2015.