The Rotterdam Blankenburg ’tunnel project of the Rönesans is chosen “deal of the year” in Europe.
Rönesans continues to undertake important projects with its subsidiary Ballast Nedam in the Netherlands, one of the largest PPP markets in Europe. From these projects “The Blankenburg Connection” was selected as the “Transport Deal of the Year” in Europe by PFI (Project Finance International). The awards were presented to companies at a ceremony in London on February 13th.
The project, which is still under construction in Rotterdam, one of the most central regions of the Netherlands, is planned to be composed of roads and tunnels and motorway connections and to facilitate access to the region. Following a construction period of 5.5 years, the consortium will then maintain the new road connection for 20 years. Total funding for this project is one of the largest in the Netherlands for an infrastructure project, with a total debt size of more than EUR 900 M. BAAK Blankenburg-Verbinding B.V. did win the PFI award in recognition of its achievement to arrange the 900m EUR project finance on this type of complex projects, combining both banks, institutional investors and the EIB, and in parallel introducing 2 new Korean investors into the Dutch project finance market.