Consortia led by Bouygues, Eiffage and VINCI have submitted initial offers for the construction of France’s ‘Pentagon’ – a €600m building in Paris which aims to concentrate all of the nation’s top military officials. A second round of bidding is scheduled for July 1 2010.
An initiative which enabled Australian states and territories to more easily raise finance for infrastructure projects during turbulent economic times is to be withdrawn as confidence in market conditions grows.
Ahmed Heikal, founder of the Cairo-based private equity firm, has issued bullish predictions about the improvements Citadel can make to the railway. A regulatory commission is deciding whether to give Citadel majority ownership of the line and a decision could come as early as next week.
A subsidiary of Spanish construction company FCC together with Egyptian firm Orascom Construction have reached financial close for the pathfinder PPP – the €360m New Cairo wastewater treatment facility. Four regional banks provided debt for the project.
The Abu Dhabi Investment Authority has bought a 15% stake in London’s Gatwick airport. The deal is part of Global Infrastructure Partners’ plan to syndicate equity after it purchased Gatwick. The sale of a 12% stake to South Korea’s National Pension Service, announced earlier this week, is also part of the same syndication.
Portugal’s recently appointed public works minister has said that the country’s motorway concessions programme has been put on hold indefinitely as the government now focuses on developing high-speed rail and Lisbon’s new airport. The decision will not affect projects currently in procurement.
Boris Johnson, London’s Mayor, has strongly criticised the PPP contract to upgrade the London underground, calling contractors Ferrovial and Bechtel 'a bunch of rogue builders' and describing the PPP contract as 'larceny'. Tube Lines responds and urges Mayor to "stop playing games".
Intentionally or otherwise, the prospect of forcing public pensions to invest in infrastructure was raised this week. Such talk is encouraged by politicians – but not necessarily welcomed by pensions.
Ben Velazquez has joined Commerzbank to become head of its North American infrastructure financing business. He was previously at Standard Chartered Bank and has over 15 years of experience in the market.
The Spanish government has included a series of measures in this year’s budget that will allow it to bail out several road concessionaires which ran into problems with lower than expected traffic and, more importantly, higher than expected land expropriation costs. Help comes in the form of low-interest loans from the government, increased tolls, and extensions to the concessions’ life.
The UK energy regulator has proposed a series of radical measures to secure clean energy supplies and capture the £200bn in investment the sector needs over the next decade. These measures range from the UK setting a minimum price on carbon emissions independently of the EU to the more radical creation of a central buyer of energy - effectively nationalising the sector.
The National Pension Service is planning to buy a 12% stake in London’s Gatwick Airport from Global Infrastructure Partners.
South Korea's National Pension Service will buy a 12% stake in London’s Gatwick Airport from Global Infrastructure Partners for £100m. The UK's price correction makes property in the country a 'good buying opportunity'.
The Spanish construction group has reached financial close on a 40-year contract to build and operate a new airport in Spain.
The National Pension Service is planning to buy a 12% stake in London’s Gatwick Airport from Global Infrastructure Partners for £100m. The move is part of the pension’s aim of quadrupling its international exposure as it expands its portfolio from $240bn to $400bn by 2014.