Construction company BAM is largely withdrawing from Oosterweel

Construction company BAM is largely withdrawing from Oosterweel
Construction company BAM is largely withdrawing from Oosterweel


17 november 2020
Today at
01:35

The ailing Royal BAM Group is drastically reducing its commitment to the Antwerp mega construction site Oosterweel.

The Dutch construction firm Koninklijke BAM Groep is largely withdrawing from the Oosterweel construction site. De Tijd heard that.

BAM wants to reduce its interest in the tenders that are still in the pipeline of the consortium ROCO (Right Bank Combination). That consortium is the only candidate remaining for the construction of the Canal Tunnels, which must connect the Oosterweel junction with the Antwerp Ring. This project, which should be completed in 2030, comes with a price tag of 2 to 2.5 billion euros.

Besix, Jan De Nul, DEME and BAM Contractors each own 16 percent of the ROCO consortium. BAM is going to drastically reduce its share in ROCO, but is obliged to at least symbolically continue to participate in the project. It is not yet clear which company has sufficient resources and people to take over BAM’s share in the ROCO consortium. Cordeel, Willemen, Denys, Franki Construct, Van Laere and Van Wellen also hold shares in ROCO.

Node

ROCO is also in the running for the construction of the Royers lock and the Oosterweel junction itself. ROCO and the competing consortium Rinkoniên submitted their final final offer (BAFO) at the end of last month. It is expected that client Lantis will award the contract before the end of the year, after which the contract can be signed at the beginning of next year at the latest. For the construction of the Oosterweelknoop, a final offer of 450 to 500 million euros is assumed.

BAM will retain its commitment to the COTU consortium (Combination Oosterweel tunnel). That consortium won the contract worth 570 million euros for the construction of the Scheldt tunnels. Like Besix, Jan De Nul, DEME, BAM has a 25 percent share in that project.

Restructuring

BAM has been going through heavy weather for a long time. The company has lost a lot of money on large projects worldwide in recent years. As part of a major restructuring plan, it therefore reviewed all current plans and limited many positions in major yards. Oosterweel, one of the largest shipyards in Europe, is now also facing that fate. The works, including roofs, represent a total investment budget that is approaching 5 billion euros.

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