Funding arrangements behind the £1.86bn Mersey Gateway bridge project, which saw Halton BC appoint the Merseylink consortium as the project company, have scooped two international awards.
The Project Finance International Awards named the deal Europe’s Infrastructure Deal Of The Year as well as IJ Global’s European Road Deal Of The year.
Devised by Halton BC in partnership with advisors KPMG and DLA Piper, the deal uses a combination of commercial and bank finance.
By taking a flexible approach to procurement, Halton BC - which appointed the Merseylink consortium to design, build, finance and operate the project - delivered savings of £250m under the budget set by Government in 2011.
The Mersey Gateway also utilised the IUK Guarantees programme on bond element financing, helping encourage new infrastructure investors into the market.
Halton BC leader, Rob Polhill, said: ‘These awards are fantastic recognition for everybody who has been a part of the project over the years. As one of the smaller local authorities in the UK, our successful journey to make the new crossing a reality, bringing benefits right across Halton and the North West is remarkable and we could not have done it without support from our advisors KPMG and DLA Piper.’
Richard Threlfall, UK Head, infrastructure, building and construction at KPMG said: ‘These awards are thoroughly deserved for Halton and the Mersey Gateway team. Halton achieved a superb result by properly defining what they wanted from the outset and then targeting the best price possible for its delivery. The Mersey Gateway is an important project not only for Halton but also for the whole region.’