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HOCHTIEF consortium reaches financial close for A7 in Schleswig-Holstein and Hamburg

August 29, 2014



ENP Newswire - 29 August 2014

Release date- 28082014 - A consortium comprising HOCHTIEF Solutions subsidiary HOCHTIEF PPP Solutions GmbH, the institutional investor, Dutch Infrastructure Fund, and KEMNA BAU Andreae GmbH & Co. KG has concluded its financing negotiations - i.e. reached what is known as financial close - for the A7 public-private partnership project in Schleswig-Holstein and the Free and Hanseatic City of Hamburg, as planned.

The consortium will plan, finance and upgrade some 65 kilometers of the A7 federal highway between the Hamburg-Northwest and Bordesholm intersections, and will operate and maintain a section between Hamburg and Neumunster for 30 years. The construction costs amount to around EUR 600 million. HOCHTIEF PPP Solutions is the majority shareholder in the project company, Via Solutions Nord GmbH & Co. KG, with a stake of 49 percent; DIF and KEMNA BAU have shareholdings of 41 and ten percent respectively.

The project involves widening the said section of the highway from six to eight lanes, and also includes the construction or refurbishment of 49 bridges. In addition, a noise protection tunnel is to be built in the section at Schelsen. A new highway maintenance depot - which will also be the headquarters of the operating company - will be constructed in the community of Nutzen, at the Kaltenkirchen interchange. Preparatory construction work is expected to start in October.

The construction work, which will be handled by a joint venture between HOCHTIEF Infrastructure, KEMNA BAU and KEMNA subsidiary, Tesch Strabenbau GmbH & Co. KG, will take around four years. Once completed, an approximately six-kilometer section between Neumunster and Bordesholm will be handed over to the federal state of Schleswig-Holstein. The remaining 59 kilometers will be operated and maintained by the partners until 2044.

'We are delighted that the federal government has once again entered into a public-private partnership with us in the area of highway construction. It is also a confirmation that we did and continue to do good work on our two 'A' models, the A4 in Thuringia and the A8 in Baden-Wurttemberg and Bavaria,' says Nikolaus Graf von Matuschka, a member of the Executive Board of HOCHTIEF Aktiengesellschaft.

'Furthermore, this new contract reinforces our strategy of offering our competencies and experience in the areas of PPP and Infrastructure as a single package for important projects such as this one while, at the same time, strengthening the local medium-sized business sector through the integration of regional companies,' von Matuschka adds.

'As a company with its headquarters in northern Germany, we are very proud - and therefore highly motivated - to be jointly responsible with our partners for handling a project that is so important for this region and, indeed, for the country as a whole,' says Dr. Walter Fleischer, Managing Director of KEMNA BAU. 'We have already demonstrated our great expertise in road building and construction material production on many other projects.'

Contact:

HOCHTIEF Aktiengesellschaft

Opernplatz 2

D-45128 Essen

Tel: +49 201 824-0

Fax: +49 201 824-2777


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Source: ENP Newswire


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