Heijmans and Barclays Infrastructure Fund (BIF) are going to be partners in the Heijmans Capital BV joint venture for financing DBFMO (design, build, finance, maintain, operate) projects. The partnership is aimed at sharing the risk-bearing capital and knowledge required to carry out DBFMO projects, starting as early as the tender phase. The last spring closed initial agreement is now converted into a final agreement, in which the Dutch National Military Museum project in Soesterberg will be the first project to be directly accommodated by this partnership.
Heijmans and BIF are observing an expansion of the market for PPP/DBFMO projects, particularly in relation to customers such as the Dutch Government Building Agency (Rijksgebouwendienst) and the Directorate-General for Public Works and Water Management (Rijkswaterstaat). The partnership ensures that the combination is able to anticipate this market trend and can reinforce each other on the basis of their individual strength: Barclays as fund manager and Heijmans as builder and operator.
The joint venture concerns the long-term financing of risk-bearing DBFMO projects and as such is separate from Heijmans' core activities, building, developing and operating. Heijmans Capital BV is focused on projects in the Netherlands and Belgium. For new projects BIF assumes an 80% participating interest and Heijmans a 20% participating interest in Heijmans Capital BV.