When rail
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LIEFKENSHOEK
RAIL CONNECTION
FINANCIAL CLOSING OF THE
PUBLIC PRIVATE PARTNERSHIP
5 November 2008
LUC LALLEMAND
CEO
CONTENT
1. Infrabel strategy for the port of Antwerp
2. The Liefkenshoek rail connection
3. Public Private Partnership
4. Project company LOCORAIL NV
5. Conclusion & questions
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1. INFRABEL STRATEGY FOR THE PORT OF ANTWERP
STEP-BY-STEP INFRABEL STRATEGY (I)
Infrabel invests heavily in competitive and
adapted rail infrastructure in the port of
Antwerp according to the strategy of
CONCENTRIC CIRCLES:
‪
1st circle: enhance efficiency
of freight traffic in the ports
ex. rail infrastructure around
Deurganck Dock and the Rail Link
Liefkenshoek
‪
Deurganck Dock
Bifurcation
Schijn
Rail Link
Liefkenshoek
Second
Railway Access
2nd circle: improve access
to Belgian ports
ex. Ghent Curve, Bifurcation Schijn
and Krijgsbaan, Second Railway Access
– 3th circle: create new access axes
ex. Iron Rhine (complementary to the
Ghent Curve
Iron Rhine
Bifurcation
Krijgsbaan
Montzen axis)
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2. THE LIEFKENSHOEK RAIL CONNECTION
SITUATION & DESCRIPTION
 16.2 km direct rail connection
between:
–
Antwerp Left Bank
(Waasland Port)
and
–
Antwerp Right Bank
DOCK
CHANNEL
CANAL
B1-B2
DOCK B1-B2
(shunting yard Antwerp North)
 Route:
–
ESCAUT
SCHELDT
ANVERSANTWERPNORD
NORTH
Siding South
Beveren Tunnel
Scheldt
FAISCEAUSIDINGSUD
SOUTH
TUNNEL
BEVEREN
BEVEREN
TUNNEL
Channel Dock B1-B2
Antwerp North
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2. THE LIEFKENSHOEK RAIL CONNECTION
OBJECTIVE
Optimal rail connection of the Deurganck
Dock AND improvement of the traffic
flows in the port of Antwerp
 Step 1: Deurganck Dock
(1st phase: 2004 – 2008
)
(2nd phase: 2008 – horizon 2020
)
– Construction of new tracks and sets of
tracks (+/- 153 km extra tracks)
– Expansion and modernisation of rail
infrastructure on Left Bank
 Step 2: Liefkenshoek rail connection
(2008 – 2014
)
– Faster and more efficient rail traffic
between Deurganck Dock and
Antwerp North
– Avoid detour over busy intersections
(Kennedy Tunnel, Berchem)
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2. THE LIEFKENSHOEK RAIL CONNECTION
STRATEGIC CONNECTION (-)
SIMULATION
 Situation in 2020 WITHOUT the Liefkenshoek rail connection
 Saturation of the Kennedy Tunnel and the axis Antwerp-Berchem – Antwerp-Schijnpoort
Right Bank
Left Bank
Scheldt
Future Liefkenshoek
rail connection
Antwerp-North
189 trains/day
AntwerpSchijnpoort
109 trains/day
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2. THE LIEFKENSHOEK RAIL CONNECTION
STRATEGIC CONNECTION (+)
SIMULATION
 Situation in 2020 WITH the Liefkenshoek rail connection
 Difference of approx. 100 trains which no longer have to pass through the Kennedy Tunnel
 A new impulse for the Deurganck Dock and Antwerp Right Bank!
Right Bank
Left Bank
Scheldt
Future Liefkenshoek
rail connection
109 trains/day
81 trains/day
Antwerp-North
AntwerpSchijnpoort
0 trains/day
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3. PARTENARIAT PUBLIC-PRIVÉ
DESCRIPTION OF PPP
Government
Infrabel
Structured cooperation
between
Private entity
LOCORAIL NV
Purpose = financing and accelerated execution
of a key project (Liefkenshoek rail connection)
creating added value for both parties
DBFM agreement (Design, Build, Finance et Maintain)
 Creative financing mechanism for key mobility project!
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3. PUBLIC PRIVATE PARTNERSHIP
ADVANTAGES OF PPP
Detailed specifications for the design and the construction of
the entire project
Transparency and optimisation of the costs
Public
Private
Partnership
Better compliance with the imposed construction periods and
the cost of construction
Transfer of risks from the public to the private sector
 In this case: building risk and availability risk
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3. PUBLIC PRIVATE PARTNERSHIP
EVOLUTION & TIMING PPP LIAISON FERROVIAIRE LIEFKENSHOEK
– 18/04/06
Call for tenders for financing and construction
– May '06 – Juin '08 Negotiations and refining of the project during talks with
three candidate consortia
– 26/05/08
Candidate consortia submit Best and Final Offer
(technical aspects)
– 19/06/08
Candidate consortia submit Best and Final Offer
(financial aspects)
– Juin – Oct.‪‘08
Talks between Infrabel and candidate consortia with best price offer
– 06/10/08
Signing of agreements on environmental measures and transfer of
ownership of land with Flemish Region and port authorities
– 09/10/08
Establishment of LOCORAIL NV
– 5/11/08
Contract closing + assignment of construction contract
Financial closing of the PPP Liefkenshoek rail connection!
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3. PUBLIC PRIVATE PARTNERSHIP
PLAN OF THE WORKS
–
–
–
–
20/10/08
12/11/08
Mid 2013
2012-2014
– Spring '14
– Mid 2014
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 Start nature compensation works (Rietveld Kallo)
 Start construction works Liefkenshoek rail connection
 End of construction works
 Works on tracks, signalling infrastructure and overhead
wiring (Infrabel)
 Testing of new rail infrastructure + homologation
 Putting the Liefkenshoek rail connection into operation
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3. PUBLIC PRIVATE PARTNERSHIP
INVESTMENT LIEFKENSHOEK RAIL CONNECTION
Total investment: approx. 765 million (current) euros
– Infrabel: approx. 75 million (current) euros
(construction of rail infrastructure)
–
PPS:
approx. 690 million (current) euros (CAPEX)
• Flemish Region: co-financing of 107 million euros
* In annex you'll find a view of the different railway projects and Infrabel investments in and around the Port of Antwerp
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4. PROJECT COMPANY LOCORAIL NV
PRIVATE INVESTMENT GROUP LOCORAIL NV (I)
Includes: CFE NV, VINCI Consession SA, BAM PPP Investments Belgium
(actors LOCORAIL)
Financing resources provided by
50 %
 Europese Investeringsbank (EIB)
50 %
 ING
 Fortis
 Banco Santander
 Société Générale
 BNG (Bank Nederlandse Gemeenten)
 Bayerische Landesbank
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4. PROJECT COMPANY LOCORAIL NV
LOCORAIL NV (II)
 responsible for financing and
construction of the infrastructure
(partly civil engineering)
 responsible for the costs of
maintenance of the infrastructure
during 38 years
 puts‪the‪infrastructure‪at‪Infrabel’s‪
disposal during this period
 transfers the ownership of the
infrastructure to Infrabel after 38
years (2051)
 Locorail NV receipts:
availability fee of approx. 50 million
euros/year from Infrabel during 38 years!
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4. PROJECT COMPANY LOCORAIL NV
LOCORAIL NV HAS OUTSOURCED CONTRUCTION ACTIVITIES TO
CONSTRUCTION CONSORTIUM LOCOBOUW NV (I)
THV LOCOBOUW includes:
(actors LOCOBOUW)
– MBG
– VINCI Construction
Grands Projets
– CEI-De Meyer
– Wayss & Freytag
 THV LOCOBOUW is also
responsible for:
- the realisation
- the maintenance during 38 years
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4. PROJECT COMPANY LOCORAIL NV
CONSTRUCTION CONSORTIUM THV LOCOBOUW (II)
Construction of railway bed from Bundel
South to the Beveren railway tunnel (1-3)
Construction of two single-track
bored tunnels under the Scheldt
and channel dock B1-B2 (5-6)
Renovation and
adaptation of the
existing Beveren
Tunnel (3-4)
Construction of an access
tunnel between the Beveren
railway tunnel and the
tunnels to be bored (4-5)
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Construction of closed
tunnel construction
and open access ramp
on Right Bank (6-7)
Adaptation of
existing
railway
tunnel under
the R2
(7)
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5. CONCLUSIE
CONCLUSION
 The Liefkenshoek rail link is the 2nd successful PPP project for Infrabel
(* Diabolo and Liefkenshoek rail link projects)
 The investment world places tremendous trust in Infrabel
 The private sector is injecting around 1 billion euros* into our railway
infrastructure
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QUESTIONS?