Bringing confidence to Latvia’s first public-private partnership

The new road takes heavy traffic out of the town of Kekava, easing pressure on local streets and improving daily life for residents. What used to be a 30 to 40-minute drive through town now takes just 10 to 15 minutes using the bypass. This means faster journeys, less noise and pollution in residential areas, and better access for local businesses and emergency services.

We acted as the technical advisor for the European Investment Bank, the Nordic Investment Bank and TIIC. Our job was to give lenders a clear view of risk, progress and performance so they could invest with confidence at every stage.

We provided:

• Full technical due diligence, including site checks, design reviews and risk analysis.
• Advice during procurement, contract talks and financial close.
• Construction monitoring during design and build
• Ongoing oversight during the 20-year operation and maintenance period

We were involved from the early stages and will remain part of the team until 2043 to help ensure long-term success.

As Latvia’s first PPP, the project came with added pressure. The COVID-19 pandemic, war in Ukraine and harsh winter weather affected labour, materials and timelines. But careful planning and quick action kept the project moving forward. What we did:

Secured early procurement

We advised the client to order key materials like steel and electrical parts early. This helped avoid price rises and supply issues when global markets became unstable.

Protected materials on site

We worked with the contractor to set up secure storage and full insurance cover. This helped protect materials from theft, damage and freezing weather.

Planned around winter delays

Severe winters often stop construction in Latvia. We helped rework the plan, added more workers during warmer months, and adjusted milestones to recover lost time.

Our work on public-private partnerships across Europe means we knew how to spot risks before they become real issues. We guided the Special Purpose Vehicle on practical ways to manage risk. That meant helping them adjust their contingency budgets, secure contracts with indexed pricing, and revise delivery timelines.

We brought benchmarks from other road schemes in the region to the table. These gave decision-makers a clear view of what projects cost, how fast they move, and how they run day to day. Within this context, investors, contractors and regulators could make better decisions and set realistic expectations from the start.

The Kekava Bypass is more than a new road. It is a new way of delivering infrastructure in Europe. With strong planning, trusted partnerships and clear oversight, the project is already showing what PPPs can achieve.

By managing risk, tracking progress and building trust, this scheme sets a new standard for Latvia’s roads. And it proves that certainty leads to better results.