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Sacyr closes €342m Chilean road deal

The road contract reached financial close with €262m provided by Chile’s Corpbanca and Bando del Estado. Over the last 10 months, Sacyr has secured some €800m in funding for four Chilean motorways.

The concessions arm of Spanish construction firm Sacyr has locked financing for its fourth Chilean motorway – a 187-kilometre stretch connecting the cities of La Serena and Vallenar, the company announced in a statement.

The €342 million road contract was closed with €262 million of debt from Chile’s Corpbanca and Banco del Estado. Sacyr said it hopes to rake in some €841 million in revenues over the contract’s 35-year life. 

Sacyr has been active in Chile over the last 10 months, securing some €800 million in funding for its four motorway projects in the country. In addition to the La Serena-Vallenar motorway, Sacyr also manages three other motorways in Chile, two of which are under construction. 

The company’s global concessions portfolio includes 34 assets spread throughout Spain, Portugal, Chile, Costa Rica, Italy and Ireland. Its holdings include 22 road concessions totalling more than 1,700 kilometres, two intermodal transfer facilities, six hospitals, two underground railway lines and a motorway service area company.