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 2016, Bond liabilities totalled £25m. 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.
The company owns the 92 Heavy Equipment Transporters (HETs) for exclusive assignments tasked by the British Army. In 2016, the UK MoD re-assigned 18 HETs to the US Army in Europe.
Operating the service is sub-contracted to FTX Logistics Limited, a wholly owned subsidiary of KBR.
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