Spanish giant Sacyr has reached financial close (FC) on the RSC-287 highway P3.
Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) will provide a $186m loan to the firm, with ICO and Santander providing guarantees.
Under the plans, Sacyr will take over the 204km artery between Tabaí and Santa Maria, in Rio Grande do Sul, delivering upgrades and expansions to bolster capacity - under a 30-year concession. The project is expected to require around $472m of investment.
According to Sacyr, the project is a “true milestone that consolidates Sacyr Concesiones’ activity in Brazil.”
Recently, Sacyr detailed its plans to further push into the P3 sector, with chairman Manuel Manrique saying at its annual meeting that it was “working ambitiously to become one of the best P3 developer companies in the world.”