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Boskalis, Hochtief in 1 billion euro motorway project
November 12, 2012 / 6:35 PM / 5 years ago

Boskalis, Hochtief in 1 billion euro motorway project

AMSTERDAM (Reuters) - Dutch dredging group Koninklijke Boskalis Westminster NV (BOSN.AS) said on Monday it was part of a consortium contracted for a 1 billion euro ($1.27 billion) motorway project.

Boskalis represents 30 percent of the deal, with the remainder divided between VolkerWessels and Germany’s Hochtief (HOTG.DE). It will be financed by fund management company DIF, Boskalis said in a statement.

The project is for the design, building, financing and 30-year maintenance of a 20-km stretch of motorway between Amsterdam’s Schiphol airport, the capital Amsterdam and the nearby town of Almere, it said.

The deal is significant for Boskalis, the world’s largest dredger and owner of salvaging and towing firm SMIT which booked 1.4 billion euros in sales in the first half of 2012.

It comes as Dutch government spending on infrastructure is falling due to deep austerity cuts. ($1 = 0.7868 euros)

Reporting By Anthony Deutsch; Editing by Helen Massy-Beresford and David Cowell

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