Spanish construction firm Sacyr has secured a €200 million loan to finance a contract to build and operate a new airport in Murcia, in the south-east of Spain.
Banco Espirito Santo, Caja Segovia, Caixa Tarragona, Caja Sol and state-backed Instituto de Credito Oficial are providing the loan. Murcia’s new airport will be located in Corvera and aims to transport some five million passengers once it completes initial construction. Two expansion phases are then planned – the first when the airport hits an annual mark of nine million passengers and the second once it surpasses 14 million passengers. The project’s total cost is estimated at €250 million but 17 percent of that amount has already been financed by the Sacyr-led team.
Sacyr’s 40-year contract increases its portfolio to 29 concessions across Spain, Portugal, Chile, Costa Rica, Italy and Ireland. The majority of the firm’s assets were transferred from former concessions unit Itinere, when it was bought last year for close to €3 billion by Citi Infrastructure Investors. They include 11 real-toll highways and eight shadow-toll roads running over 1,410 kilometres, five hospitals, one airport and one metro concession, among others. Most of the assets are either in construction or in ramp-up phase.