We are all pleased to announce that a Meridiam-led consortium signed on December 8^th 2011 the concession contract and the financing for the extension of the E18 motorway in Finland which connects the city of Kotka to the eastern city of Koskenkylä. The construction phase of the project, which is expected to last about 3 years, will consist of the improvement of 17km of existing roads and one 36km-extension of the existing road. The sections will then be under operation and maintenance for 12 years by the consortium.

For this project, Meridiam partnered with three local companies; two construction companies (YIT and Destia) and a pension fund (Ilmarinen). The total amount of the investment reaches 425 million euros and will be financed through a combination of loans and equity. Meridiam will invest 41 million euros, providing 60% of the equity to be invested in the project.

A co-financing will also be provided by the European Investment Bank (EIB), the Nordic Investment Bank (NIB) and the Finish bank Pohjola.

The E18 is part of the Nordic Triangle projects of the TEN-T European transport programme linking Helsinki to the Russian border and onwards to St Petersburg.

The project represents Meridiam’s eleventh European investment, alongside the Limerick Tunnel in Ireland, the Vienna Ring Road in Austria, the A2 Motorway (Phases 1 and 2) in Poland, a number of LIFT health projects in the UK, the A5 Motorway in Germany, the R1 Motorway in Slovakia and the SEA High Speed Line and Saint-Quentin Velodrome in France which have all reached financial close, and the Nottingham Express Transit in the UK which is in preferred bidder status.