M11 Gorey Enniscorthy PPP Scheme
Transport Infrastructure Ireland is pleased to announce the award on 14th October 2015 of the M11 Gorey to Enniscorthy Public Private Partnership (PPP) Contract. The M11 Gorey to Enniscorthy PPP scheme involves greenfield construction of about 39 km of new national roads. It will include 27 km of standard 2x2 motorway (M11 route), 4 km of dual carriageway (N80 Link Road) and 8 kilometres of single carriageway national road (N30 route).
The PPP contract was awarded to a BAM PGGM Iridium consortium. The contract provides that the consortium will be responsible for the design, build and financing of the scheme along with the operation and maintenance of the M11 section for twenty five years from opening of the road which is planned for 2019.
It is expected that about 250 to 300 people will be directly employed during the construction of the scheme which will commence in 2016 following completion of detailed design, with further employment generated in material suppliers and to businesses in the area. The Construction Industry Council (CIC) estimates that for every 10 direct jobs created by a project, a further 4 indirect jobs are created in the supply chain.
The M11 Gorey to Enniscorthy Scheme will form a strategic component of the motorway network, providing a high quality safe link within the south east region of Ireland. It will also ease congestion by bypassing Ferns, Camolin and Enniscorthy. The improvement of the N11/M11 route is a specific objective of Ireland’s infrastructure investment programme.
It is predicted that the average journey time savings for motorists between using the existing N11 route and using the new M11 motorway will be approximately 10 minutes, and this saving is likely to be higher at peak travel times and at weekends when there is more traffic congestion.
The PPP consortium was funded by a combination of EIB lending and Société Générale led investor group comprised of Aviva, Babson and NN Investment Partners B.V.
The consortium will recoup its investment costs through payments from Transport Infrastructure Ireland.