The energy and infrastructure news and analysis service Proximo has awarded the European PPP Deal of the Year award for 2022 to the Kekava Bypass PPP project closed in Latvia in July 2021.
We together with lead counsel Loyens & Loeff (Brussels) advised the Kekava ABT, formed by A.C.B., Binders, and TIIC (Portugal), on the 3+20 year Design – Build – Finance – Maintain contract with the Latvian state for the 17.5 km Kekava bypass on the Via Baltica route, with financing from the European Investment Bank and the Nordic Investment Bank. The total gross availability payments are slightly above EUR 250 million (excl. VAT).
The full description is available here.
This project involved Sorainen experts from the Finance (Inese Heinacka, Santa Rubīna), Corporate (Renāte Purvinska, Andis Burkevics), and Real Estate & Construction (Viktorija Cherkas) teams and was led by partners Rūdolfs Eņģelis and Lelde Laviņa.
Here is the full press release from our client.