VIENNA May 5 Austria's Strabag SE
will take part consortia to build and operate a 57-km section of
a motorway in western Ireland, it said on Monday.
Strabag has a 25 percent stake in the construction
consortium handling the stretch of the N17/N18 motorway between
Gort and Tuam near Galway.
The public-private partnership project has a total
private-sector investment value of about 330 million euros ($458
million), it said.
Equity funding represents 12 percent of the overall funding
for the project, with Strabag's share amounting to 10 percent of
the equity, it added.
Construction begins this month on the motorway, due to open
in November 2017.
This marks the start of a 25-year operating period for this
section. On completion of the scheme, the DirectRoute concession
consortium will get monthly payments from the National Roads
Authority of Ireland.
The EU-financed Marguerite Fund owns 50 percent of the
concession consortium, while Strabag, John Sisk and Son, Lagan,
Roadbridge, and HICL Infrastructure Co Ltd each own 10 percent,
($1 = 0.7212 Euros)
(Reporting by Michael Shields; Editing by Mark Potter)