Metropistas picks up 10-year toll road extension in Puerto Rico

Metropistas has been granted a 10-year extension to its PR5 and PR22 toll road concessions in Puerto Rico, up to 20161. Metropistas, a subsidiary of Spanish operator Abertis, signed the agreement with the Puerto Rico Highways and Transportation Authority. The agreement entails payment of $115 million to the Authority and a redistribution of the company's future revenue. PR22 is the 83km San Juan-Arecibo highway and PR5 is the 4km urban San Juan-Bayamon highway.
May 3, 2016 Read time: 2 mins

Metropistas has been granted a 10-year extension to its PR5 and PR22 toll road concessions in Puerto Rico, up to 20161.

Metropistas, a subsidiary of Spanish operator 5729 Abertis, signed the agreement with the Puerto Rico Highways and Transportation Authority. The agreement entails payment of $115 million to the Authority and a redistribution of the company's future revenue.

PR22 is the 83km San Juan-Arecibo highway and PR5 is the 4km urban San Juan-Bayamon highway.

Autopistas Metropolitanas de Puerto Rico is owned by investment bank 3347 Goldman Sachs Infrastructure Parthers and Abertis. Goldman Sachs was initially majority owner while Abertis initially served as minority partner and main highway operator.

They landed the public-private partnership contract, worth $1.4 billion, in 2011. In February 2013 Abertis acquired 6% of Goldman Sach's equity, elevating its position to majority owner with 51% ownership. Since taking over, the two highways have undergone a $56 million facelift.

Metropistas also has a concession to operate the 3km Teodoro Moscoso Bridge, across the San José Lagoon, inking Rio Piedras in San Juan to Isla Verde Carolina. It acts as an extension of PR17, also known as the Jesus T. Piñero Expressway, connecting with the Román Baldorioty de Castro Expressway – the PR26.

Abertis is also negotiating similar concession extension agreements for several of its assets in Chile and Argentina.

Finance & Funding

For more information on companies in this article

Related Content

  • Chile highway link faces future issues
    January 24, 2017
    Chile’s busy Route 68 between capital Santiago and the country’s main port of Valparaiso faces an uncertain future. The 110km highway carries heavy traffic volumes and is close to its capacity of 4,500 vehicles/hour at peak periods, with extensive works required to improve the route. The work to upgrade Route 68 is expected to cost up to US$170 million, with eight sections of the highway in particular need of attention. The tender process for the upgrade work will open shortly. The Chilean Government opt
    Read More
  • Ardian buys out Ascendi’s Portuguese toll road operations
    August 9, 2016
    French infrastructure fund manager Ardian has agreed to acquire all the shares of Ascendi PT II which operates seven Portuguese motorway concessions Ardian, an independent private investment company, is buying the shares from its joint venture partner Ascndi Group. Ascendi PT II was formed in June 2015 as a partnership between Ardian Infrastructure and Ascendi and owns and operates five motorways in northern Portugal and the Lisbon area. Ardian Infrastructure will pay €600 million for control of the
    Read More
  • Key Chilean connections
    November 27, 2012
    Strong interest is being shown in the construction sector in Chile for the project to build the Chacao Bridge. The tender process is due to open in the first half of 2013 and a large number of contractors, over 30, have already acquired terms and conditions of the works package. The construction project is expected to cost US$740 million. Bidding is expected to close in early 2014 and the winner will be selected and the contract awarded. Work should start in 2015 and the completion date will be in 2019. A
    Read More
  • New road tunnels for Chile’s capital
    October 21, 2021
    New road tunnels are being planned for Chile’s capital, Santiago.
    Read More

Highlighted Content