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Ballast Nedam Signs Concession Contract With HTM to Fuel Vehicles With Natural Gas

December 2, 2008

The Netherlands, Nieuwegein

CNG Net, a Ballast Nedam company, has signed a cooperation contract with HTM Personenvervoer for the supply of natural gas to fuel its buses and for the financing, creation, operation, management and maintenance of a natural gas filling station. The filling station is designed to refuel 135 buses with natural gas at the HTM site in The Hague. The long-term concession contract has a contract value of well over EUR 50 million (USD 64 million). CNG Net is focusing on selling natural gas to the automotive sector by building, financing, operating, managing and maintaining natural gas filling stations throughout The Netherlands. The target is to have 25,000 natural-gas fuelled cars on Dutch roads within a period of four years. To this end, CNG Net plans to build a nationwide network of 250 natural gas filling stations, benefitting the country through improved air quality and lower CO2 emissions.

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