Grupo Rodoviario del Baixo Alentejo, in which Iridium has a 49.5% holding and the group of Portuguese companies Edifer, Tecnovía and Conduril have entered into an agreement with the Portuguese government, via the public roads agency Estradas de Portugal (EP), to design, construct, finance, operate and perform maintenance on the Baixo Alentejo motorway, which will link the towns of Sines and Beja in the centre of the country. The investment in the project amounts to 535 million euros and the concession period is 30 years.
Bank finance is structured around a 200 million euro loan from the European Investment Bank, without recourse to shareholders and with an average life of 27 years, with credit from a pool of 7 BEI banks amounting to 181.7 million euros.
Dragados, which heads the Construction area in the ACS group, will be in charge of the works. The construction of the motorway will mean the building of 84 new km of motorway, the duplication of 43 km of roads and the enhancement of a further 220 km of roads existing in the area, to the value of 410 million euros.
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