Vinci dropped from France’s A355
7 June 2012
The French authorities have decided to withdraw Vinci from its position as preferred bidder on the A355 western Strasbourg bypass deal.
Vinci Concessions was awarded the €750m contract in January this year, and had been seeking an extension to the 28 May deadline for preferred bidder status, to enable it to secure the final financial backers for the scheme.However, the state has now decided not to give the company any more time and has withdrawn Vinci from the process.
Nonetheless, Vinci insisted it remains committed to the scheme, pointing out that "several banks had already confirmed their participation in the financing of the project".
"The extension of the preferred bidder status beyond 28 May 2012 would have enabled the last two financial institutions to confirm their participation in the project and finalise the financing arrangements within the maximum authorised timeframe," the firm said.
The future of the 55-year contract to design, finance, construct, operate and maintain 24km of motorway is now unclear.
