• Last traffic light between Cork & NI border will be removed
• First transport Public Private Partnership since 2007
• Contract is further evidence of investor confidence
Contracts for the first Public Private Partnership road contract since 2007 were signed today in what Minister for Transport, Tourism & Sport Leo Varadkar described as a milestone in Ireland’s economic recovery.
The Government has signed a contract with a consortium to construct the €282 million project to remove the bottleneck at Newlands Cross on the N7 Limerick/Cork/Waterford Road in Dublin, and upgrade the N11 between Arklow and Rathnew to a four lane dual carriageway.
This is the first transport Public Private Partnership to be signed since the economy ran into trouble in 2007 and shows that Irish transport agencies can once again raise private finance to invest in crucial transport infrastructure. The two projects have been bundled together into a single contract.
The Newlands Cross Fly-over will remove the last traffic light between Cork, Limerick, Waterford and the border with Northern Ireland. Some 80,000 vehicles pass through Newlands Cross every day and the project will provide welcome relief to commuters, as well as those on longer journeys.
The N11 upgrade will improve road safety on a notoriously dangerous stretch of road and will also include the first on-line service station on the N11, at Gorey. The entire project is due to be completed within two years and on-site works are expected to begin within weeks.
“It’s great to be able to confirm that all systems are go for the upgrading of Newlands Cross, and of the N11 between Rathnew and Arklow. These projects will make a huge difference to road users and will finally remove two bottlenecks which were not addressed during the boom. The N11 will improve safety standards the minute it’s opened, while the Newlands Cross fly-over will remove the last traffic light between Cork, Limerick and Waterford and the border,” Minister Varadkar said.
Funding of more than €150 million has been provided under a Public Private Partnership including a major funding provision from the European Investment Bank and Bank of Ireland, and a stand-by credit facility from the National Pension Reserve Fund.
The EIB also signalled this week that it has agreed in principle to fund the N17-18 Gort-Tuam link road. President Hoyer confirmed it will now be considering applications for funding the N25 New Ross bypass and the M11 Gorey-Enniscorthy roads. These three projects are part of the Government’s stimulus package announced last year.
EIB President Werner Hoyer said: “The European Investment Bank recognises the potential for unlocking economic growth in Ireland through improved transport connections and we are pleased to provide €75 million to support the N11 road project. As Ireland’s first transport PPP project in recent years this marks a turning point in financing crucial investment in Irish roads.”
Cormac O’Rourke, Chairman of the National Roads Authority stated: “We are very pleased that in just over two years’ time there will be 80km of continual motorway/dual carriageway from Dublin to just south of Gorey which will improve driver safety and travel times along the N11/M11 route. In addition, this Public Private Partnership will remove the last remaining traffic light along the N7/M7 corridor at Newlands Cross.”
Fred Barry, CEO National Roads Authority said: “We are back in business. The signing of this PPP is the result of an intensive effort over a six year period to restart the upgrading and improvements across the National Road Network. I would like to acknowledge the effort put forth by all those involved and look forward to the completion of this scheme which will enhance national motorway connectivity.”
The contract has been signed with BAM PPP PGGM Infrastructure Cooperatie, BAM’s investment joint venture with Dutch pension fund service provider PGGM, together with BAM Contractors.
Commenting Tom Hayes, Chief Executive Bank of Ireland Corporate Banking said: “The provision of the debt funding for the project, alongside the EIB, highlights our continued commitment to the domestic PPP market. It brings our funding commitments to the Irish infrastructure market in recent years to approximately €500 million.”
Department of Transport, Tourism and Sport: 01 604 1087 / 01 604 1007
N11 Arklow to Rathnew/N7 Newlands Cross Junction Upgrade
This scheme comprises two separate construction projects, inclusive of a service area on the N11, under a Public Private Partnership. The contractor BAM Civil Ltd (BAM PPP & PGGM Infrastructure Cooperatie) will commence construction on both projects simultaneously and is expected to be completed in just over two years. The overall scheme value is €282 million.
The first project is N11 Arklow to Rathnew which consists of 16.5km of new dual carriageway, along with associated link roads and junctions. It will connect the existing N11 Arklow Bypass with the existing N11 Rathnew/Ashford Bypass creating motorway/dual carriageway from Dublin to Gorey. This project will also include the construction of a service area on the N11-Northbound, just north of Gorey, with direct access from the N11-Southbound via an overpass.
The second project is the N7 Newlands Cross Junction Upgrade comprising a flyover at the junction between N7 Naas Road and the R113 Fonthill/Belgard Roads at Newlands Cross. This flyover will take N7 traffic up and over the R113 Fonthill/Belgard Road, thus minimising local traffic impact. Traffic signals will be installed at the two points where the ramps meet the local roads, with dedicated turning lanes provided for the Belgard/Fonthill Road.
Additional Public Private Partnerships (PPP) which are pending:
N17/N18 Gort to Tuam
Consists of 57 km of motorway/dual carriageway that will commence at the northern end of the existing N18 Gort to Crusheen scheme and continue in a northerly direction with junctions at Kiltiernan connecting to the N67, at Rathmorrissy connecting to the new M6 Dublin Galway route, at Annagh Hill connecting to N63, and at Tuam connecting to the existing N17. The Authority is currently procuring, by way of PPP, the design, construction, operation and financing of the scheme.
N25 New Ross Bypass PPP Scheme
The N25 New Ross Bypass Scheme includes the construction of sections of both the N25 and N30 routes. It is envisaged that the PPP Project will comprise works of approximately 16km: 14.6km of dual carriageway (N25 and N30 routes) and 1.2km of single carriageway (New Ross N30 route).
N11 Gorey to Enniscorthy PPP Scheme
The proposed scheme comprises approximately 28 km of new motorway from the end of the Gorey Bypass to the townland of Scurlockbush, south of Enniscorthy. The scheme also includes an 8 km N30 bypass to the west of Enniscorthy and a 4 km N80 link road which will connect the N80 at Scarawalsh to the new M11. The scheme will bypass Ferns, Camolin and Enniscorthy and will incorporate a new bridge crossing of the River Slaney north of Enniscorthy.