Macquarie Capital reaches financial close on €850 million A9 Badhoevedorp-Holendrecht project

Amsterdam, 03 Dec 2019

  • The A9 is the final project of the Schiphol-Amsterdam-Almere corridor.
  • Once complete the road will improve accessibility in greater Amsterdam area.

Today Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group, announced financial close on the c. €850 million A9 Badhoevedorp-Holendrecht PPP Project. The A9 is the final project of the Schiphol-Amsterdam-Almere corridor (SAA).

The VEENIX consortium is led by Macquarie Capital and supported by Siemens and project delivery firm Count & Cooper. The consortium was selected by Rijkswaterstaat, the executive agency of the Dutch Ministry of Infrastructure and Water management in September 2019, to expand the existing A9 road near Amstelveen from three to four lanes in each direction.

VEENIX is responsible for the design, build, finance and maintenance of the project for 14 years under a design, build, finance and maintain (DBFM) contract. VEENIX is supported by FCC Construcción as contractor. The project also involves the construction of a so called ‘sunken highway’ with three roof structures, the expansion of the Schiphol Bridge and 14km of noise pollution barriers. Once complete the road will improve traffic flow, reduce congestion and improve accessibility in the greater Amsterdam area.

Willem Stitselaar, a Senior Managing Director and Head of Macquarie Capital in the Benelux region said: “As a leading global developer of infrastructure, we invest in the early development stages to make projects happen. We have led the VEENIX consortium from inception through to financial close, applying best in class design, engineering, project execution and finance, and are proud to be developing this essential infrastructure in the Netherlands.”

Macquarie Capital also acted as the sole financial advisor and debt arranger to the consortium. The total senior funding requirement for the project is around €1 billion, which will be provided by seven international lenders (Credit Agricole Corporate and Investment Bank, DZ Bank, KfW Ipex-Bank, MEAG Munich Ergo, NWB and SMBC). The European Investment Bank also provided 50 per cent of the term loan, totalling c. €340 million, which is backed by the European Fund for Strategic Investments (EFSI).

The A9 project award follows Macquarie Capital’s previous role as sponsor on the award winning Blankenburg Tunnel PPP in 2018, tendered by the same procuring authority, and the Amsterdam and Breda Court PPP projects.


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Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,704 people in 31 markets. At 30 September 2019, Macquarie had assets under management of €348.9 billion. For further information, visit


About Macquarie Capital
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. Macquarie Capital provides strategic M&A and capital raising advice as well as partnering with clients by investing capital into their projects and companies. Globally Macquarie Capital focuses on six core sectors: infrastructure, utilities and renewables; real estate; telecommunications, media, entertainment and technology; resources; industrials; and financial institutions. Macquarie Capital is a global leader in developing and investing in early stage infrastructure around the world.

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