M11 Gorey - Enniscorthy motorway PPP

Overview:

• M11 Gorey - Enniscorthy motorway PPP (public-private partnership).
• The project is a new motorway from the Gorey Bypass at Clogh to Scurlockbush, south of Enniscorthy. The scheme also includes a bypass of the N30 to the west of Enniscorthy and a link road to the N80.
• It is being developed by a consortium led by BAM PPP Ireland and Iridium Concessiones de Infraestructuras.
• The project consists of 27km of dual carriageway (the M11), 8km of single carriageway bypassing Enniscorthy and linking the N11 with the N30 and 4km of dual carriageway linking the N11/N80 junction north of Enniscorthy to the M11 Mainline.
• The project has an estimated value of €400 million and is supported in part by a €110 million loan provided by the European Investment Bank (EIB) and a €113 million senior secured notes issue privately placed with institutional investors and arranged by Société Générale who also provided a €27 million bride facility.
• The project is scheduled for completion in 2019 with financial close reached in October 2015.

Sam Duke - Editor