Hochtief buys out Bilfinger to take control of Herren Tunnel Lubeck

Global infrastructure group Hochtief has acquired the 50% of shares in Germany’s Herren Tunnel Lübeck toll road from industrial services provider Bilfinger. The acquisition brings Hochtief’s ownership to 100% and full operational control of the 30-year public-private partnership between Hochtief Solutions and Bilfinger Berger Project Investments. A contract with the project company Herrentunnel Lubeck, 50-50 joint venture, was signed in March 1999 and construction started in October 2001.Herrentunnel
March 14, 2016 Read time: 2 mins
Picture courtesy of Hochtief
Global infrastructure group 981 Hochtief has acquired the 50% of shares in Germany’s Herren Tunnel Lübeck toll road from industrial services provider Bilfinger.

The acquisition brings Hochtief’s ownership to 100% and full operational control of the 30-year public-private partnership between Hochtief Solutions and Bilfinger Berger Project Investments.

A contract with the project company Herrentunnel Lubeck, 50-50 joint venture, was signed in March 1999 and construction started in October 2001.Herrentunnel Lubeck planned, financed and built the project and is operating the tunnel until 2035 when it will be handed over to the Hanseatic City of Lubeck

The 1km tunnel in Lubeck, northern Germany, cost around €78.5 million and is one of Germany’s first toll roads. It is part of the 2.1km toll road that runs under the Trave River. The tunnel replaced a bascule bridge over the Trave River which was not fully functional at the time.

A statement by Hoctief in 2005 said that the total investment was €176 million, of which the German federal government contributed €90 million - the same for construction and maintenance of a new bridge.
Finance & Funding

For more information on companies in this article

Related Content

  • World's largest tunnel boring machine
    May 9, 2012
    Russian operator company NCC (Nevskaya Concession Company) has placed an order with German manufacturer Herrenknecht for the world's largest tunnel boring machine (TBM). The Mixshield TBM, for construction of the Orlovski Tunnel, "will surpass all previous TBMs" with a diameter of 19.25m and it is designed to construct a mega-tunnel to link both halves of the centre of Russia's second city St Petersburg under the River Neva and speed up traffic.
    Read More
  • Increased infrastructure spending
    February 22, 2012
    With economies booming in the BRIC countries and other regions, spending on infrastructure is at a high - Patrick Smith reports As economic crisis grips much of the world, many countries are still spending billions on infrastructure to improve transportation. While the USA and Europe struggle with debt problems (and this has affected much of the rest of the world) the development of highways, airport, ports and other infrastructure is gathering pace in other regions to boost economic developments.
    Read More
  • A joint venture will carry out a key Netherlands transport project
    January 20, 2017
    A joint venture team is to carry out the key Zuidasdok project in the Netherlands. The Zuidplus joint venture team comprises the partners Fluor, Heijmans and Hochtief. The package of works includes widening the A10 South motorway, which includes an underground stretch, as well as the expansion of the Amsterdam Zuid station. The design and construction contract is worth approximately €990 million, of which Fluor has a 42.5% share, Heijmans 15% and Hochtief 42.5%. The contract also includes seven years of
    Read More
  • Kenya develops annuity road funding model
    May 8, 2015
    Kenya is introducing novel methods for funding its necessary road infrastructure development - Shem Oirere writes. Kenya has unveiled a new financing model for road construction and reviewed its design standards and construction methodologies, which forms part of a new strategy for the East African country. Under this new plan Kenya is planning to upgrade 10,000km of road, with these links featuring asphalt surfacing; the work being carried out over the next five years at a cost of US$2.8 billion. Despite t
    Read More

Highlighted Content