Loyens & Loeff congratulates TIIC, ACB & Binders on reaching financial close on the first large PPP project in Latvia, the Kekava Bypass
On 16 July 2021, the consortium signed the PPP contract with the Latvian Ministry of Transport and secured funding by the European Investment Bank and the Nordic Investment Bank. The Ķekava Bypass, with a total length of the lanes of 100 km, will be the section of the road A7 Riga – Bauska – the border of Lithuania (Grenctale) is a part of the international road E67 Via Baltica. The project is a DBFM (design, build, finance and maintain) availability project with a 23 year contract duration.
Loyens & Loeff acted as lead sponsor’s counsel to the consortium. The Loyens & Loeff project team consisted of partners Valentijn De Boe & Koen Panis and senior associates Sarah Libregts and Jan Missoul, assisted by local partner Sorainen consisting of partners Rūdolfs Eņģelis & Lelde Laviņa and senior associates Inese Heinacka and Santa Rubina. The Lenders were represented by Linklaters Paris, partner Darko Adamovic and managing associate Alex Bluett and local partner Cobalt (Edgars Lodziņš and Gatis Flinters). Thanks for the great teamwork!
Our involvement in this deal showcases the growing European footprint of the international Loyens & Loeff Energy & Infrastructure team, following the recent close of the Arcadis Ost I project in Germany in June this year and there will be more to come!
Koen PanisPartner Attorney at law
Koen Panis is a partner in our Brussels office where he is a member of the Banking & Finance Practice Group, the Energy Team and the Real Estate Team. He specialises in international and local finance transactions.T: +32 2 773 23 90 M: +32 497 53 38 36 E: email@example.com
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