2,500 jobs as BAM consortium reaches financial close of M11 PPP project
27 October 2015
A consortium led by BAM and Spanish infrastructure group Iridium has reached financial close with the National Roads Authority (NRA) for the €400 million M11 Gorey to Enniscorthy PPP motorway project. All project and financing agreements have now been signed and the project implementation work can get underway immediately.
The project will support up to 2,500 jobs locally and across the country and will see construction activity commence in January 2016. The PPP involves the design, construction, financing, operation and maintenance of 32.1km of the M11 motorway, with sections of dual carriageway and the N80 Link Road routes, together with the design, construction and financing of the 8km single carriageway on the N30 route.
The improvement of the N11/M11 is a key specific objective of Ireland’s infrastructure investment programme and today’s announcement follows BAM’s recent completion of the €250 million Arklow to Rathnew section of the M11 motorway, also on a PPP basis.
The M11 Gorey to Enniscorthy Scheme will provide a high quality safe link within the South East region and ease congestion by bypassing Ferns, Camolin and Enniscorthy. The main structural feature of the scheme will be a crossing of the River Slaney combined with an adjacent crossing of the Dublin-Rosslare railway line.
The project will be undertaken by a BAM Civil and Dragados joint venture. The new road will be operational in August 2019, followed by a 25 year concession period for the consortium.
“We are pleased to have brought finance to and concluded the agreement in relation to this significant piece of motorway infrastructure and look forward to commencing construction. Following the recent opening of the Arklow to Rathnew portion of the M11, this new motorway will further enhance transport links to the South East. PPP is a highly effective model for investing and developing Ireland’s infrastructure, which plays a critical role in our economic recovery,” said Theo Cullinane, BAM Ireland Chief Executive.http://www.engineersjournal.ie/2015/10/27/2500-jobs-as-bam-consortium-reaches-financial-close-of-m11-ppp-project/http://www.engineersjournal.ie/wp-content/uploads/2015/10/BAM-M11.jpghttp://www.engineersjournal.ie/wp-content/uploads/2015/10/BAM-M11-300x300.jpgNewsBAM Ireland,construction,roads,Wexford