Dutch High Speed Rail Link

Key Data

The Netherlands
Project Value:
over £600m
Investment Date by HICL:
Concession Length:
25 years
Asset Overview:

High speed railway between Amsterdam's Schiphol Airport and the Belgian border

The story in stats

1st PPP

railway project in The Netherlands

25 year


Accelerating Growth

One of the largest Public Private Partnership (PPP) project signed to date in the Netherlands; the Dutch High Speed Rail Link provides a high-speed connection from Schiphol Airport to the Belgian border.

HICL Infrastructure Company Ltd (HICL) owns a 42.99% equity stake in the project, which illustrates its preference for long term, concession style PPP contracts. InfraRed in its capacity as investment adviser to HICL actively manages the project for the remaining 25 years of the contract duration. The contract involves the provision of track, noise-reduction technology, signalling, power distribution and a communication system.


In 2001, The Netherland’s Government awarded the InfraRed-led consortium the project for the financing, construction and operation of a new, c.100km, high speed railway between Amsterdam's Schiphol Airport and the Belgian border. The aim of the project was to reduce journey times between the Airport and the Belgian border by 50%.

The HSL Zuid project, as it is known locally, was successfully developed by the InfraRed Infrastructure team with the construction completed on time and on budget in December 2006.

In 2006, HICL, a FTSE 250 company launched by InfraRed, acquired the investment as part of its initial public offering.  

Creating Real Value

As part of our investment advisory role to HICL our asset management team ensures that the value created in this project is preserved throughout its life. In practice, this means working very closely with our project partners to ensure that the project runs smoothly and in accordance with the operating agreements in place.

Through pro-active management and the maintenance of good, long-term relationships we are able to make sure that everything is literally ‘on track’.

The state-of-the-art track, which was built on time and on budget, continues to be fit for purpose and we have put in place initiatives such as the project's Assurance Committee to ensure that the project adheres to the highest standards in terms of Reliability, Availability, Maintainability and Safety (RAMS).

Our involvement with the project requires regular visits by our Asset Managers which take place at least once every two months. 

Managing an investment in an asset of this complexity brings challenges but is also highly rewarding. Being able to harness the necessary safety, technical, operational and relationship management to ensure a successful outcome is an ongoing process that is achieved with pro-active engagement of the team.

Robert Newton
InfraRed Asset Manager