Nature of the asset

The city of Rostock is located on the northern coast of Germany, 225 km north of Berlin with direct autobahn connection. Rostock is divided by the Warnow River. On the eastern side are industrial areas and on the western side are most of the residential areas.

The distance from one side to the other is currently over 19 km by road which involves at least a 25 minute trip and in peak hour can take up to 2 hours. There is extensive traffic congestion on Rostock arterial roads during peak hours.

The Warnow Tunnel is the first tolled road project in Germany.

Nature of the investment

In March 2000, financial close was reached on a controlling interest in this A$341 million development. MIG has a 70% equity position in the development. This consists of €28.6 million in base equity. Equity was contributed over the construction period. The remaining 30% equity participant and the construction contractor is Bouygues Travaux Publics SA, one of the largest construction groups in Europe. The tunnel opened to traffic on 12 September, 2003.

Asset map