Cintra has been recognised with the European PPP Deal of the Year prize awarded by the magazine Project Finance International (PFI) to the most relevant European Public-Private Partnership for the D4/R7 highway. These awards are considered the most prestigious in the PPP project sector. The publication therefore recognises Cintra’s work in the bidding and award of the D4-R7 highway, the company’s first contract in Slovakia.
According to Javier Martínez-Pardo, Project Finance Manager for Cintra,
“This new prize is deserved recognition for the entire Cintra team and its ability to successfully handle the most complicated projects”.
He also added that, in Slovakia, it has managed to “raise a huge finance sum, in extremely competitive conditions and a very narrow bidding schedule” and also “convince creditors to maintain their original terms, despite the time and worsening of the financial market”.
This is the fourth time that Cintra has received an award from the magazine. In the past year, the Toowoomba highway (Australia) received the Road Deal of the Year prize; in 2006 the refinancing of the Chicago Skyway (USA) obtained the North American Deal of the Year prize and in 2003 the M4/M6 (Ireland) received the EMEA Infrastructure Deal of the Year prize.
Highway D4 / R7 in Slovakia
The D4-R7 project involves a ring road around the city of Bratislava, which will extend the D4 highway and the R7 highway to relieve the intense traffic conditions in the area. Specifically, the project includes the construction of a new 27 km highway (D4), with 2 lanes in each direction, between Jarovce and Raca; it creates a ring road to the east of the city and it connects the existing radial roads. It also includes a new 32 km radial highway (R7) with 2 and 3 lanes in each direction, from the centre of the city to the south-east.
This project will improve the traffic conditions in the region and long-distance traffic between neighbouring countries, fostering economic development opportunities, increasing employment levels and the local supply chain.
The availability payment concession will have a duration of 30 years after the construction period is complete. The total estimated investment is €975 million.
About the Project Finance International magazine
PFI is the leading international magazine in project financing. It reports on all stages of a bid, from initial rumours to the post-completion analysis. All professionals specialised in project finance trust this magazine’s analysis to identify investment opportunities and monitor their competitors