South African construction business Group Five?said on Monday that its unit Intertoll is part of the consortium that has won the R11 billion?M6 Phase III Motorway Project in Hungary.

Intertoll holds 10% of the concession company and will lead the operations and maintenance activities for this project.

Revenue will start flowing through to Intertoll from the beginning of calendar year 2008, with full-scale operations commencing in 2010.

Intertoll's partners on the project are Strabag (Germany), Colas (France) and John Laing Infrastructure (UK).

The 78-kilometre dual carriageway project includes the construction and maintenance of 55 structures and four tunnels totalling over three kilometres in length. The 30-year concession project reached financial closure on 21 November.

Intertoll is part of Group Five's infrastructure concessions business and offers toll system design, procurement, implementation and operation, together with related services such as routine road maintenance. The business currently has equity interests in two other service concessions in Eastern Europe and operates toll roads in South Africa.

"Since joining the EU in 2004, the transit traffic through Hungary from Romania and Bulgaria has increased by more than 30%. The project reinforces and adds depth to Intertoll's position in Hungary and adds to our growing profile in Eastern Europe," said the head of Group Five infrastructure concessions Eric Vemer.

The project was tendered and closed in record time, with pre-qualifications announced in May 2007, tenders submitted in September 2007, the preferred bidder chosen in October 2007 and financial closure in November 2007.

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