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

  • Plan for India government to fund ADKIC project
    September 19, 2013
    India’s Inter Ministerial Group (IMG) has proposed that the country’s central government allocate more than €668 million (INR 56.1 billion) for the Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC). The 15-year funding would develop an Integrated Manufacturing Cluster in Uttar Pradesh, Punjab, Jharkhand, Haryana, West Bengal, Bihar and Uttarakhand where the 150km-200km corridor passes. The ADKIC’s 20-city spread will be aligned to the Eastern Development Freight Corridor (EDFC) and will use the Public P
    Read More
  • Road user charging to pay for road improvements?
    February 20, 2012
    What is the current situation with Russian roads? It is an objective answer to this question that is contained in the official report of the Federal State Statistics Service for 2009. Here it states: "...public roads are of poor quality: 8.4% of roads accounted for groundwater, nearly a third of roads are gravel, rubble or cobblestone.
    Read More
  • Boom in Asian infrastructure investment
    February 8, 2012
    Investment in China and India continues unabated, but other nations on the continent are eager to attract companies as Patrick Smith reports Asia is still booming despite the current economic crisis, and new infrastructure programmes are constantly coming on stream. Powerhouses China and India, with their double-digit growth figures and huge infrastructure plans (in scope and cost), are leading the way and are still magnets for businesses wishing to expand, both in terms of facilities and customers. But oth
    Read More
  • Fiat Industrial achieves 6.2% revenues growth in 2012
    February 1, 2013
    Fiat Industrial achieved a 6.2% rise in revenues and trading profit in excess of US$2.71 billion (€2bn) during 2012 – an increase of 23.3% over 2011. Revenues in 2012 totalled €25.8 billion, as continued robust growth for agricultural equipment is said to have more than compensated for weaker trading conditions in other businesses. Trading profit was €2,079 million, up €393 million over 2011, with trading margin improving 1.2% to 8.1% on the back of what Fiat Industrial said was continued strong performance
    Read More

Highlighted Content