Iridium has signed a concession agreement and has arranged project financing for 13 stations on section IV of Line 9 of the Barcelona Metro, with an investment worth some 590 million euros

On 21 October 2008 the consortium led by Iridium, was awarded a concession for the construction, maintenance and operation of 13 stations in Section IV of Line 9 of the Barcelona Metro (Sagrera-Badalona-Santa Coloma).

The concessionaire is to build, finance and operate the 13 stations in Section IV, with an investment of some 620 million euros (excluding VAT), of which 347 million correspond to an initial payment for works done before the signing of the concession agreement. The concessionaire will be responsible for maintaining and operating stations and cleaning and running station lifts, among other tasks, for a period of 31 years and 9 months.

The stations on Section IV will come into service progressively from 2009 to 2013, as part of the longest metro line in Europe, with 47.8 km and 52 stations, which is expected to carry nearly 100 million passengers a year.

The Catalan government, through IFERCAT, its railway infrastructure agency, will remain the owner of the stations covered by the concession and of the tunnel through which the trains will run, and will also be responsible for key communications. Its metropolitan transport agency, EMT, will be in charge of providing the metro service, through the company TMB.

The concession agreement was signed on 19 December 2008, and the project financing has been arranged with a group of banks consisting of La Caixa, Caja Madrid, Santander and BBVA.
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