Fasttrax Ltd

Background

Fasttrax is a Joint Venture company owned 50% KBR and 50% 3i Infrastructure Fund. Fasttrax was awarded a 22.5 year Concession Contract to operate the British Army's Heavy Equipment Transportation (HET) Service.

In December 2001, Fasttrax issued limited recourse Bonds to a value of £85m to provide finance for this PFI project. Fasttrax has made repayments in line with the Bond agreements and at the end of 2010, Bond liabilities totalled £55m. Bonds are due to be fully repaid by 2021.

Funds were then used to purchase a fleet of 92 Heavy Equipment Transporters from Oshkosh Corporation.

Operating the service is sub-contracted to FTX Logistics Limited, a wholly owned subsidiary of KBR.

Awards

The Project has received recognition from the PPP Industry at their annual PFI awards

• 2002 Winner Best MoD Project > $40m
• 2004 Winner Best Operational Defence Training or Equipment Project
• 2004 Finalist Best Operational Partnership (all sectors)
• 2005 Finalist Best Operational Defence Scheme
• 2006 Winner Best Operational Defence Scheme
• 2006 Winner Grand Prix: Best Operational Project (all sectors)
• 2007 Finalist Best Operational Defence Scheme