McGrigors seals £620m Austria roads PPP

McGrigors has sealed a £620m major road PPP scheme in Austria. 

The deal, Austria’s first ever public private partnership project, will see the construction of a 51km section of of road, including the north-east section of the Vienna ring-road and motorway from Vienna towards the Czech Republic. 

It is expected that work will begin early this year.

Funding for the project is being provided by European Investment Bank and through a public bond issue arranged by Deutsche Bank, with payments in respect of the bonds and the EIB funding being guaranteed by Ambac Assurance.