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Government: Agreement on First PPP Package Already Finalised
Wednesday 31 March 2010 Zoom in | Print page
Bratislava, March 31 (TASR) - The Government on Wednesday approved the signing of the fourth addendum to the concession contract involving the first package of public-private partnership (PPP) projects aimed at constructing several sections of the D1 motorway, which was agreed between the Transport Ministry and a company called Slovenske Dialnice (Slovak Motorways).
The addendum represents the formal rounding-off of the project, finalising its timetable, dates and deadlines, as well as all its economic parameters in a structure financed by the banks that have agreed to participate in the project.
"We've already agreed on the price, the system of refinancing and the dates. Now we're basically waiting for the financing to be wrapped up. That could happen before April 30, because we've put a bridging finance scheme into the contract - until the European Commission approves the state aid to be used, and until the European Investment Bank releases the resources for the consortium," said Transport Minister Lubomir Vazny (Smer-SD).
The concession contract was signed on April 15, 2009, but the date for wrapping up the financing was constantly being postponed. The first addendum to the contract was drawn up on May 20, followed by the second one on September 23.
The first of three PPP packages involves working out project documentation, carrying out construction work, financing, as well as running and maintaining selected sections of the D1 motorway: Dubna Skala–Ivachnova, Janovce–Jablonov, and Fricovce–Svinia.
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