M7/M8 Portlaoise Motorway
The background
In 2005, Transport Infrastructure Ireland launched the M7/M8 Portlaoise Motorway PPP Scheme, as major investment in road infrastructure in Ireland’s midland region was required to alleviate chronic congestion and improve road safety.
Celtic Roads Group (Portlaoise) Limited consortium, comprising of Invesis, Iridium Concesiones de Infraestructuras S.A. and NTR plc were awarded the PPP contract in 2007 to design, build, finance, and maintain the M7/M8 Portlaoise Motorway.
Since becoming operational in 2010, the project has removed historical bottlenecks and helped boost the economy through improved journey times, increased journey reliability and by making the midlands more accessible and attractive for foreign investment.
Client
Transport Infrastructure Ireland
Capital Value
€300M
Sponsor/Investor
Invesis, Iridium Concessiones de Infraestructuras, NTR plc
Consortium
Celtic Roads Group (Portlaoise) Ltd
Engineering, Procurement and Construction (EPC)
BAM Contractors, Dragados SA
Operations and Maintenance (O&M)
BAM Contractors, Iridium Concessiones de Infraestructuras, and Egis
Business value
Invesis have a long track record of working with public and private entities and is active in the Irish PPP market, having successfully delivered the M1 Dundalk Western Bypass and the M25 Waterford Bypass Motorway schemes at the time.
Through fostering collaborative relationships, Celtic Roads Group (Portlaoise) Ltd consortium were able to support the Transport Infrastructure Ireland in delivering a vital piece of infrastructure that is enhancing local communities and supporting the future economic growth of Ireland.
The project has been operational for 3 years and is maintained to a standard that meets the PPP contract terms. Prior to the motorway’s construction, commuters travelling from Cork to Dublin’s M50 could take over three and a half hours. The journey on the M8/M7 today, takes approximately two and a half hours. Reduced journey times are testament to the quality of the asset and its success.
Key features
By using the PPP model and partnering with the Celtic Roads Group (Portlaoise) Ltd consortium, the project…
- was completed 4 months in advance of the construction schedule and within budget
- reduced the journey time for end users by 45 minutes during peak times
