BAM consortium to build Irish road
By Sandy Guthrie10 December 2014
A consortium of Dutch-firm BAM PPP, PGGM and Iridium has been chosen as preferred tender for the N25 New Ross Bypass project in Ireland.
The €217 million project will involve the design/build/finance/maintain/operate contract for 13.6km of dual carriageway – N25 and N30 routes – and 1.2km of single carriageway – New Ross N30 route.
The construction work is expected to support around 300 jobs across Ireland and will be undertaken by a BAM Civil and Dragados joint venture.
The road is intended to bypass the town of New Ross on the N25 route and link the N25 with the N30 New Ross to Enniscorthy road. It will improve access from the cities of Cork and Waterford to the port of Rosslare, and remove a major bottleneck on the N25 route.
Ireland’s National Roads Authority (NRA) has indicated its intention to use the European Investment Bank (EIB)’s Project Bond Credit Enhancement product as the financing scheme that BAM Iridium will use for the project.
BAM PPP is an operating company of Royal BAM Group, and is responsible for Royal BAM Group’s involvement in the public-private partnership (PPP) market. PGGM is a co-operative Dutch pension fund service provider.