EIB to provide €400m loan for A3 motorway upgrade project in Germany

EIB

April 22, 2020 – The European Investment Bank (EIB) has agreed to provide a €400m loan to fund the upgrade of A3 motorway section in Bavaria, Germany.

 

The financing will be used to upgrade the motorway between the AK Biebelried and AK Fürth / Erlangen junctions through a public-private partnership (PPP).

 

Estimated to cost more than €1bn, the A3 motorway project includes the expansion of a 76km section of the motorway from Biebelried to the west of the Rhine-Main-Danube canal bridge from four to six lanes.

 

A consortium comprising Eiffage and Johann bunte Bauunternehmung recently secured the A3 motorway upgrade contract from the Highway Directorate Northern Bavaria on behalf of the Federal Ministry of Transport and Digital Infrastructure. Construction work is scheduled for completion in 2025.

 

EIB vice-president responsible for operations in Germany Ambroise Fayolle said: “Providing efficient and effective infrastructure is key. Despite the current difficult context, the EIB has proven to be a reliable cornerstone financer for the project.

 

“This once again shows that the EU bank, with Juncker Plan support, is able to fulfil its aim to strengthen the European economy, even in complicated circumstances.”

 

The A3 motorway upgrade project forms part of Germany’s infrastructure programme, which will involve refurbishment of ten sections of the motorway network in the country.

 

Being provided under the Investment Plan for Europe, the EU bank financing is for 29 years and is supported by a guarantee from the European Fund for Strategic Investments (EFSI).

 

In 2019, EIB has approved a £176.6m loan to Femern Landanlaeg, the company that manages the Danish contribution to building the ‘Fehmarn Belt’ railway connection between southern Denmark and Hamburg in Germany.

Source:-https://www.worldconstructionnetwork.com/news/eib-to-provide-400m-loan-for-a3-motorway-upgrade-project-in-germany/

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