3i Infrastructure invests in more Dutch motorways

Private equity investment company 3i Infrastructure has invested €6.5m in a motorway project in the Netherlands, the company’s third investment in Dutch roads.

The FTSE 250 company, which is 34% owned by 3i Group, has invested in the A27/A1 public private partnership motorway project between the Utrecht North Eemnes junction and the Bunschoten-Spakenburg interchange, as part of the 3Angle BV consortium, which also includes Heijmans Capital and Fluor Infrastructure.

3Angle reached a financial close for the €220m project, which includes management and maintenance for 25 years, following a provisional awarding in June with construction due to be completed by the end of 2018.

3i Infrastructure is to fund the investment with loans from six banks and equity contributed by three 3Angle shareholders and as 3i holds an 80% interest in Heijmans Capital, this effectively gives 3i a 60% interest in the project.

The consortium is responsible for the financing, design, construction, management and maintenance of the reconstruction of the motorway.

Rijkswaterstaat, the directorate-general for public works and water management in the Netherlands, is using the project to improve traffic circulation and safety on the motorways by widening the A27 motorway to three lanes, as well as widening the A1 to four lanes.