Two more projects transferred to BAM PPP and PGGM joint venture; joint venture continues good growth
Bunnik, the Netherlands, 2 April 2013 - The joint venture between BAM PPP and PGGM (BAM PPP PGGM Infrastructure Coöperatie) continues to develop positively. In 2012 it achieved financial close on two projects (Schools Bundle 3 in Ireland and the N33 Assen-Zuidbroek in the Netherlands) and received another two existing projects transferred from BAM PPP (A59 in the Netherlands and Somerset Schools in the UK).
Into 2013 it remains preferred bidder on a concession targeting financial close before the half year results and has already reached financial close on the Supreme Court Building (Netherlands). In addition on 28 March the successful transfer of both the Burgdorf Justice Centre (Switzerland) and the A12 (Netherlands) took place, which means that:
- The joint venture now holds investments in ten PPP projects;
- The market value of the joint venture is in excess of €140 million;
- The joint venture is involved in four PPP projects in the Netherlands (three road projects, the A59, N33, A12 and the Supreme Court Building);
- The joint venture is currently bidding for 13 PPP Projects in BAM PPP’s home markets.
The objective of the joint venture remains providing a long-term partnership to invest in the developing social and transport PPP markets in the Netherlands, Belgium, the United Kingdom, Ireland, Germany and Switzerland.
About BAM PPP
BAM PPP is an operating company of Royal BAM Group, a worldwide construction services company generating revenues of approximately €7.4 billion and listed on NYSE Euronext Amsterdam. BAM PPP is responsible for Royal BAM Group’s involvement in the PPP market. Operating from offices in Bunnik, Birmingham, Brussels, Dublin, Frankfurt am Main and Glasgow, BAM PPP is active in the road, rail, education, healthcare, judicial and general accommodation sectors and is well positioned to access most Western European markets.
PGGM is a cooperative Dutch pension fund service provider. PGGM offers its institutional clients: pension fund management, comprehensive asset management, policy advice and management support. Currently – on behalf of five pension funds – PGGM manages slightly in excess of €133 billion for 2.5 million people. As a co-operation with more than 579,000 members, PGGM is helping to achieve a valuable future. Either alone or with strategic partners, PGGM is developing innovative future provisions by linking together pensions, care, housing and work.
Royal BAM Group nv:
- press: A.C. Pronk, +31 (0)30 659 86 21;
analysts: P.R.E. Snippe, +31 (0)30 659 87 07;
- press: Maurice Wilbrink, +31(0)30 277 15 00.