AUSTRIA - RREEF Infrastructure, as part of the Bonaventura Consortium, has agreed to design, build, finance and operate 51km of toll road in a deal with a total investment value of €945m.
The so-called 'A5 PPP Ostregion Package 1' project, to build the first section of the Vienna north-eastern bypass, is the first privately financed PPP-type road project in Austria.
In addition to the motorway, the project will include the construction of 98 bridges, 4 tunnels and several supporting structures.
The concession contract will expire in 2039, giving a concession tenor of about 32 years. Revenues will come from quality-dependent payments governed by the highway's availability and from traffic-related shadow toll revenues.
Commenting on the deal, John McCarthy, head of RREEF Infrastructure Europe said: “The A5 Ostregion PPP Package 1 is a landmark transaction... This investment is expected to deliver stable long term returns for our investors."
The Bonaventura Consortium is headed by Hochtief PPP Solutions and includes Alpine, Egis and Meridiam Infrastructure, alongside RREEF Infrastructure.
RREEF Infrastructure, which has over €1.9bn in assets under management (AUM), is part of RREEF, the real estate and infrastructure investment management arm of Deutsche Asset Management, which has more than €53bn of institutional and private client money in AUM.
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