Autovía del Pirineo, S.A. with 72% participation by Iridium Concesión de Infraestructuras S.A., has successfully closed the financing for the Autovía del Pirineo A-21 Project, for the construction of the works for the Venta de Judas-Yesa and Yesa-L.P. Zaragoza sections, together with the operation of the Noain junction, Noaín-Monreal, Monreal-Izco and Izco-Venta de Judas sections of the Autovía del Pirineo A-21 which runs through the Regional Community of Navarra. The concession period is for thirty years, with an estimated project investment of 225 million Euros.

The Project financial structure consists of a 26-year bank loan for 152 million Euros. This credit is being provided by seven banks: Santander, BBVA, West LB, Banco Popular, Dexia Sabadell, Caja Navarra and Caja Rural de Navarra.

The financial contracts were signed on the 30th of April after several months of intense negotiations with the financial bodies. Finally, thanks to IridiumÂ’s robustness and its excellent positioning and credibility within the concessions sector and the banksÂ’ heavy commitment with Iridium, the financial closing was reached within the time period agreed to with Navarra Government, the Administration conceding the concession.

The Autovía del Pirineo was drawn up as a strategic, high-capacity, highway communications axis between the Cantabrian and Mediterranean Seas by connecting the Basque Country with Catalonia.

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