Meridiam in €104m Spanish road deal

A team including the French fund manager and several Spanish companies has been awarded a 30-year contract to build and operate a stretch of highway in Andalusia, Spain.

The government of Andalusia, the second-largest Spanish regional community, has just awarded a public-private partnership (PPP) contract for a new portion of the region's Almanzora highway.

The winners – a consortium of French fund manager Meridiam and Spanish developers Acciona, Cintra, Detea, Montealto and Felipe Castellano – have been awarded a 30-year, €104.2 million contract for the construction, conservation and operation of the Purchena-Mediterranean (A-7) stretch of the Almanzora highway.

The PPP deal will see the consortium build the new highway stretch over the course of three years, which is expected to introduce some 2,000 jobs to the area. Works are scheduled to begin during the second half of 2012.

In addition to developing the close to 41-kilometre stretch of highway, the consortium will build a 0.7-kilometre branch connecting the highway to a nearby industrial park.

The A-7 expansion is the second such project in the Andalusia regional roads plan.

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