GTC (Gdańsk Transport Company) is the concessionaire of the Polish A1 Road Public Private Partnership (“PPP”) which involved the construction and operation of the 2-lane motorway linking Gdańsk with Toruń.
GTC's concession covers the northernmost 152km section of the 400km Autostrada A1 which forms part of the Pan European Transport Corridor connecting the main Polish Baltic port cities of Gdańsk and Gdynia with the Czech motorway D1 at the Polish-Czech border. From Toruń onwards, the motorway leads via Łódź, Czestochowa, and Katowice down south to Gorzyczki on the State border.
The A1 was tendered as a DBFMO (Design, Build, Finance, Maintain and Operate) contract and was awarded to GTC under a concession agreement expiring in 2039.
The A1, which reached financial close in 2005, was entirely funded by GTC through a mixture of equity capital and senior debt financing. The senior debt is provided by the European Investment Bank, Nordic Investment Bank and Swedish Export-Credit Corporation.
The project is split into 2 phases, which are currently both operational:
- Phase 1: 90km stretch fully opened in October 2008.
- Phase 2: 62km stretch fully operational in October 2011.
The project receives predominantly availability based remuneration, with a minority shadow toll element. It features a closed tolling system with payment made at exit gates according to the vehicle category and the distance travelled. As the responsible counterparty to the DBFMO contract of the A1 concession, GTC’s focus is to ensure that the asset is operated and maintained in good condition to ensure safe enjoyment by its users, whilst maintaining effective toll collection on behalf of the public grantor.
Stefano Brugnolo is the Asset Manager responsible for the A1 Motorway.
Last Updated January 2017.