Eversheds is advising the Romanian National Company for Highways and National Roads (CNADNR) on one of the Eastern European country’s first toll roads – a deal struck on the back of contacts forged by its Romanian best friend firm.
The London projects team, led by Jonathon Cripps, is advising CNADNR on the international project finance aspects of the e1.5bn (£1.18bn) Ploiesti-Brasov road project. The transaction came to the firm through Romanian firm Tuca Zbârcea, spearheaded by PPP and banking and finance partner Andreea Ionescu.
Projects partner Rebecca Carter, who is working closely with Cripps on the road project, said: “It’s always quite challenging to take a model that’s been established in one country to another. We’ve had to adapt employment and planning law to make it fit.”
Eversheds ;has ;been putting together concession agreements and schedules and the client is to issue tender documents to bidders over the next month.
The 108km road will provide a link to the e80m (£63.13m) airport at Brasov, Romania’s eighth-largest city, which is being developed by Eversheds client and preferred bidder Intelcan.
Cripps and Carter are being assisted by assistant Phil Harris on the road project, while Cripps is being assisted by Carter, finance partner Indraj Mangat, ;Harris ;and assistant Ian Pumfrey on the airport project.