A11
In March 2014, the first spade went into the ground for the A11 Bruges. This project was one of six missing links in the Flemish road network and the largest DBFM (Design, Build, Finance & Maintain) road project to date in Flanders. It involves the realisation over a 12-kilometre stretch, of the main A11 road link between the regional roads N49 and N31, including the 30-year maintenance.
The new motorway will provide a better connection between the port of Zeebrugge and the hinterland. Separating port traffic from local traffic also increases road safety and livability in the region. The A11 is also important for good access to the East Coast. The works were completed in autumn 2017.
Innovative financing
The project is enjoying international attention for the way it was financed. This was done through the contribution of equity by the private partner Via Brugge and the public partner Via-Invest, combined with financing through project bonds of 578 million euros. Those bonds were fully committed from the start of the project by Allianz Global Investors and the European Investment Bank. The innovation of that financing method is the spreading of funds over time, according to needs. The money was made available during the construction phase. The bonds are publicly listed on the Luxembourg Stock Exchange and are covered by the “Project Bond Credit Enhancement” guarantee scheme of the European Investment Bank and the European Commission. With this, Europe aims to support the realisation of large infrastructure projects.
PMV’s role
As a 51% shareholder in Via-Invest, now De Werkvennootschap, PMV was responsible for planning and supervising the entire tendering procedure. For this, PMV contributed its financial, legal and project management knowledge and experience. PMV is still a co-shareholder in the project with a direct 39% interest.
The project in numbers
- Construction period of 3.5 years.
- The motorway has a total length of 12 kilometres and involves 89 structural engineering works including 3 tunnels, 2 bridges – one of which is moveable – and 9 eco-passages.
- 15 kilometres of new cycle tracks.
- The A11 will allow you to drive from the Blauwe Toren in Bruges to the N49 motorway between Knokke-Heist and Antwerp in seven minutes.
- The project was financed by 80 million euros of equity and a project bond amounting to 578 million euros from Allianz Global Investors and the European Investment Bank.
Other partners
- Roads and Traffic Agency is the public partner that entered into the DBFM contract
- The project company, Via A11 nv, is a public-private partnership between PMV and the consortium Via Brugge nv. Current shareholders of Via Brugge are DG Infra+, TDP, Tinc and Aclagro.
- For the maintenance of the A11, ‘Via A11’ calls on contractors: Jan De Nul, Van Laere, Franki Construct, Aswebo and Aclagro.
