| Code: 113285 |

TIN news:  The European Investment Bank (EIB) and KfW IPEX-Bank have agreed to finance Germany's A6 motorway widening between the town of Wiesloch / Rauenberg and the Weinsberg junction.
As part of the 47.1km road widening project, a 25km section will be expanded and the number of lanes will be increased from four to six to eliminate a major bottleneck on one of the country's most congested east-west axes.
The project work also included the construction of the 1.3km-long Neckartal Bridge.
"The overall project cost is expected to go up to approximately €1.3bn, of which around €600m will be construction costs."
The bidding consortium which included construction firms like HOCHTIEF and JOHANN BUNTE Bauunternehmung, along with the financial investor DIF Infrastructure IV was awarded the concession to carry out the Public-Private-Partnership (PPP) project.
The road widening project is qualified for the Juncker Plan under which the EIB and the European Commission will be offering funds for infrastructure projects in order to overcome the current investment shortfall in Europe.
KfW IPEX-Bank management board member Christian Murach said: “We are particularly pleased to be able to work together with our esteemed and experienced business partners HOCHTIEF, JOHANN BUNTE Bauunternehmung and DIF on another important German PPP.
“This instrument allows making optimal use of private investor liquidity while also involving the SME sector in order to upgrade and expand public infrastructure.
“In Germany, PPP has been used only sporadically up until now, whereas in a number of other countries it is already a frequent and successful financing option with a proven track record for large-scale public infrastructure projects.”
The overall project cost is expected to go up to approximately €1.3bn, of which around €600m will be construction costs.
The construction works are scheduled to begin by next year and will be carried out for a period of 51/2 years, with the section near Heilbronn scheduled for completion earlier as the German national garden show will be held in the city in 2019.
Additionally, the project also involves operation and maintenance for the entire 47.1-long-section. The concession period for this PPP is 30 years.

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