Zuidas tunnel project may go public

Amsterdam city council may approach the state-owned railways (NS) and Schiphol airport in its search for € 2.7bn in funding for the city’s Zuidas business park, the Financieele Dagblad reports on Wednesday.

The council needs € 4bn to finance an ambitious project to build over the A10 ring road and the railway tracks. Offices and residential blocks would be built on the 1.2 km-long tunnel.
Some 60% of the Zuidas project is supposed to be financed by the private sector but the council fears some banks may pull out.
Earlier this year, the FD reported that non of the eight private sector firms selected to bid for the project were still interested because of both the financial and political risks.
City councillor Bouwe Olij is to submit a motion to the full council this week giving the green light to considering an entirely public sector option for the development. A majority of councillors are behind the motion, the FD says.

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