On Friday July 25, 2014, Satellic, a consortium consisting of T-Systems and Strabag, reached commercial and financial close on an electronic toll collection project with Viapass, the Inter-Regional Entity consisting of the governments of the Flanders, Walloon and Brussels-Capital regions within Belgium.
Satellic has entered into a DBFMO contract with Viapass under which it must provide On-Board Units (OBUs) to be installed in trucks over 3.5 tonnes. The OBUs will use mobile and GPS technology to allow Satellic to track the number of kilometres that the trucks drive within Belgium and Satellic will be responsible for monitoring these distances, invoicing customers and providing other services such as enforcement.
The project has now entered its implementation phase and operations will begin in Q-1 2016. The operational phase will run for 12 years and the Inter-Regional Entity will have the option to extend this by up to 3 years. The project is being financed by equity and shareholder loans from T-Systems (76%) and Strabag (24%) alongside a senior loan.
Operis acted as financial advisor to the Satellic consortium (formerly known as Sky-ways).