Maeda Group Drives First Publicly-owned Toll Road Operated by Private Sector in Japan
Baker & McKenzie advised the Maeda group on the public bidding procedures in connection with the "Aichi Prefecture Toll Road PPP* Concession" implemented by the Aichi Prefectural Road Public Corporation. The Maeda group, a consortium led by the Maeda Corporation and consisting of Mori Trust Co., Ltd., Daiwa Lease Co., Ltd., Daiwa House Industry Co., Ltd. and Central Highway Co., Ltd., was selected as the preferred bidder for the project. The Group offered a price of 137.7 billion yen (USD 1.31 billion) for the concession rights to operate the toll roads.
The Firm's team was led by Naoaki Eguchi, Head of the Tokyo office's Banking & Finance Practice Group, with the strong support of partner Tetsuo Tsujimoto and associates Masabumi Tamagawa, Takehito Sekiguchi, Masao Tozaki, Wataru Inagaki and Kan Kumano.
Mr. Eguchi had the following comments on this case. “This will be the first publicly-owned toll road operated by the private sector under concession basis in Japan. We are delighted to have been able to provide our client with legal support for such a meaningful case. Concession-type arrangements are well suited to the advantages of private sector businesses. Working closely with the national government and local authorities, we will continue to provide legal support for projects that maximize the abilities of the private sector and for large-scale social infrastructure projects as we make the most of our abundant experience in overseas concession programs as well as in domestic PFI projects.”
*PPP: Public-Private Partnership