Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 5, 2009

Project Name: M25 Widening
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: Widening of the 102 km of the Thirty (30) year design build and operate contract to expand and maintain 102 km of the circumferential M25 Motorway around London (those portions that are currently only 3 lanes wide in each direction) to four lanes wide, with the addition of a central median barrier, and new low noise surfacing.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Largest roads projet ever awarded by the UK Highways Agency, valued at 4.5 B pounds, without tolls, labeled as a 30 year design, build, finance and operate (DBFO) scheme, but in fact a fixed price commitment based on availability with penalties, escalation, and incentives.

Project Locations

Address:
City: London
State:
Country: United Kingdom of Great Britain & Northern Ireland

Souces of Project Support (Non-monetary)

Checkbox Checked Land
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Government payment based on availability.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Ongoing availability payments over the course of the 30 year operations and maintenance period to the concessionaire.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: 1.3 billion pounds of senior debt provided by 16 commercial banks; 185 million pounds facility from the European Investment Bank

Checkbox Checked

From Producers as Equity: 200 million pounds from the shareholders of the concessionaire.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
38
0
Forms
Description
Other
 

Project Value (If and As Known)

Date of Estimated Project Value: May 1, 2009
Project Value
Hard Cost
Hard & Soft Costs
Total
$2-10 Billion US
(none)
Array ( )

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