KEKAVA ABT

KEKAVA ABT is a PPP Project company, founded by TIIC 2 SCA SICAR, an independent pan-European investment fund, that invests in mid-market infrastructure projects across Europe, as well as Latvian road construction companies ACB and Binders. KEKAVA ABT as a Private Partner is responsible for the development and maintenance of Kekava Bypass, the first major PPP project in Latvia. Within this PPP project, KEKAVA ABT will design, build, finance, operate and maintain the new Kekava bypass road, that is located at the section 7.78 km – 25.00 km of the state main road E67/A7, that leads from Riga via Bauska to the border with Lithuania. The PPP contract was signed on 16 July 2021 between the Republic of Latvia (represented by Latvian Ministry of Transport and Latvian State Roads) and KEKAVA ABT. The project will be developed in a 23-year maximum period, including less than 3 years of construction and 20 years of maintenance. Construction works began in November 2021 and will be completed by 4Q 2023. The European Investment Bank (EIB) and the Nordic Investment Bank (NIB) finance the project through a long-term project financing facility in addition to equity financing by the shareholders of KEKAVA ABT.