Kromhout Barracks, Netherlands
Komfort (a cooperation between Strukton, Ballast Nedam and John Laing) has completed construction on the Public Private Partnership project for the realisation and exploitation of the Kromhout Barracks Phase I in Utrecht, The Netherlands in October 2010..Phase II was completed in January 2012.
The financing deal consists of approximately €290 million of debt and equity. The debt will be jointly funded by Bank Nederlandse Gemeenten (BNG), ING Bank and Sumitomo Mitsui Banking Corporation (SMBC), whilst Strukton, Ballast Nedam and John Laing will provide the equity. Part of the financing package of BNG, ING and SMBC is an interest swap.
The project involves the construction of accommodation facilities for 3,000 defense employees at the existing terrain of the Kromhout Barracks. This site is the base for the headquarters of the Royal Netherlands Army and several other departments of the Ministry of Defence.
The contract includes all the elements of the design, building, finance, facility services, maintenance and operational services in an integrated 25-year DBFMO (Design, Build, Finance, Maintain and Operate) contract. This agreement represents a value in excess of €300 million.
In April 2008, Komfort was appointed as preferred bidder following a European tender. The consortium is a cooperation between Ballast Nedam, Strukton and John Laing, who have teamed up with Meyer en Van Schooten Architecten, Karres en Brands landschapsarchitecten (landscape architects and urban planners), and ISS Facility Services.
John Laing Infrastructure Fund
The project has been sold by John Laing to the John Laing Infrastructure Fund and is managed by John Laing Capital Management. For further details about the John Laing Infrastructure Fund, please click here.