Since the early 1960s, most of the motorway network in France has been built under concession schemes, primarily by six public and one private concession companies. Until the year 2000, the extension of the motorway network was granted to the existing concession companies and the new motorway sections were financed by the revenues of the existing sections of the network. European regulations have now banned/forbidden this practice and it is compulsory for the grantor (the State) to issue a tender in order to select the concessionaire of new motorway sections. Thus, it is necessary to find new resources for the financing of the network. This paper describes the innovative approach to financing of the A28 toll motorway in France for a design build finance and operate (DBFO) scheme, which has been awarded the title of "the deal of the year" by Project Finance International. For the covering abstract see ITRD E126595.
Samenvatting