JSE-listed Group Five’s infrastructure concessions business, Intertoll, is part of a consortium that has been awarded the €1,1-billion (R11-billion) M6 phase three motorway project, in Hungary.

Intertoll holds 10% of the concession company, and will lead the operations and maintenance activities for this project.

Revenue will start flowing to Intertoll from the beginning of 2008, with full-scale operations starting in 2010.

Intertoll’s partners on the project are Strabag (Germany), Colas (France) and John Laing Infrastructure (UK).

The 78 km dual-carriageway project includes the construction and maintenance of 55 structures, and four tunnels of more than three kilometers.

The 30-year concession project reached financial close on November 21, 2007.

Intertoll is part of Group Five’s infrastructure concessions business, and offers toll system design, procurement, implementation and operation, together with related services such as routine road maintenance.

The business currently has equity interests in two other service concessions in Eastern Europe, and also operates toll roads in South Africa.

“Since joining the European Union in 2004, the transit traffic through Hungary from Romania and Bulgaria has increased by more than 30%,” says Group Five infrastructure concessions head Eric Vemer.

“Hungary has ambitious plans to develop its road infrastructure under an aggressive timeline, and the M6 phase three is an important part of this plan.

“We are extremely pleased about winning this important project in the country and look forward to working with our world-class partners.

“The project adds to our growing profile in Eastern Europe.”

The project was tendered and closed in record time, with prequalifications announced in May, tenders submitted in September, the preferred bidder chosen in October.