Spain’s A21 motorway gets €182m of financial help

Autovía del Pirineo has secured €182 million for the construction and operation of several sections of the A21 motorway in Spain’s northern Navarre region. Autovía del Pirineo is a subsidiary of Iridium Concesiones de Infraestructuras and a member of the ACS Group. International law firm Watson Farley & Williams said that it had advised a syndicate of banks and other European institutional funders on the procurement of senior debt facilities worth €182 million for Pirineo.
September 22, 2017 Read time: 2 mins

Autovía del Pirineo has secured €182 million for the construction and operation of several sections of the A21 motorway in Spain’s northern Navarre region.

Autovía del Pirineo is a subsidiary of 3933 Iridium Concesiones de Infraestructuras and a member of the 917 ACS Group.

International law firm Watson Farley & Williams said that it had advised a syndicate of banks and other European institutional funders on the procurement of senior debt facilities worth €182 million for Pirineo.

The debt is spread over 20 years, according to the law firm.

Spain is launching a new Spanish road building programme and retendering assets currently in operation or recovering projects left uncompleted due to the last financial crisis.

The first section of the A21 was opened in 2006. The planned route of the 110km motorway is from Jaca in Aragon to Pamplona in Navarre. It follows or is an upgrade of the N240 and will link the Autovía A15 east of Pamplona with the Autovía A23 at Jaca to provide access to the southern Pyrenees and the mountain pass from France to Zaragoza in Spain.

Finance & Funding

For more information on companies in this article

Related Content

  • Spain: 'spend more on maintenance'
    July 5, 2012
    Spain's road maintenance deficit has now reached €8.6 billion in the period since 2005, according to road maintenance companies. The industry has now asked the authorities to invest 2.5% of the roads value on maintenance to take up the shortfall. The companies include Imesapi and Dragados (ACS); Grupisa (Ferrovial); Acciona Mantenimiento de Infraestructuras (Acciona); Martinsa (FCC); Valoriza (Sacyr), and Elsan (OHL). This group says that the value of all the roads the Spanish government is responsible for
    Read More
  • New tunnel between Argentina and Chile proves strong attraction for contractors
    November 27, 2013
    Interest is strong in the project to build the 14km tunnel link between Chile and Argentina, with reports stating that 23 firms having expressed an interest in the work. The twin tube tunnel will connect Argentina’s San Juan Province with Chile’s Coquimbo Province (Region IV) and will be constructed in the Andes Mountains. The Agua Negra project is set to cost somewhere in the range from US$800 million to $1 billion, although the exact price of the project has yet to be determined. Some 72% of the link will
    Read More
  • EIB produces PPP report
    February 28, 2012
    The European Investment Bank (EIB) has released a significant study aimed at exploring and promoting Public-Private Partnerships (PPP) to fund critical infrastructure projects across nine countries in North Africa and the Middle East.
    Read More
  • Financial close reached for A9 Gaasperdammerweg motorway work
    November 25, 2014
    Financial close has been reached for expansion of the A9 motorway near Amsterdam in the Netherlands. BNG Bank, DZ BANK, ING, KBC, SMBC and Société Général have made available a short-term debt of US$174 million (€140 million) and half of the long-term debt of nearly $509 million (€410 million). The European Investment Bank will provide the other half of the long-term debt. Mott MacDonald is the lenders’ technical advisor to the consortium IXAS Zuid-Oost, which has the public-private contract to expand
    Read More

Highlighted Content