The M7/M8 Portlaoise–Cullahill / Portlaoise–Castletown PPP Scheme in the Republic of Ireland reached a financial close today.
The £300m project includes the design, financing, construction and operation of approximately 25 miles of motorway between Portlaoise and Calahill and separately between Portlaoise and Castletown along with associated link roads, side roads and the provision and operation of tolling facilities.
Celtic Roads Group secured this contract which will see them create approximately 40 miles of toll road and enter into a revenue-sharing agreement with the National Roads Authority.
The toll road will be fully operational in 2011 and the concession is due to expire in 2037.
Operis reviewed the financial model and provided tax and accounting advice on behalf of Société Générale, Bank of Ireland, ING Bank N.V. and the European Investment Bank.
