Iridium awarded the concession project of Section II of Barcelona Metro Line 9 (Spain) for an amount of Euro 784 million and closes the financing for an amount of Euro 735 million.

Last November 15, the Consortium in which Iridium Concesiones subsidiary, CAT Desenvolupament de Concessions Catalanes, S.L holds a 50% stake, was the successful bidder for the public work concession for the financing, construction, upkeep, operation and maintenance of certain infrastructures of Section II of Barcelona Metro line 9. On November 26, closes the financing of the project.

The concessionaire will undertake the financing, construction and operation of the 15 stations that constitute Section II of Line 9 of the Barcelona Metro (Pratenc industrial estate - university area). The concessionaire will be responsible for the construction and maintenance of the stations, lifts, moving stairways, ticket validation and sales facilities and their cleaning, among other tasks, for a period of 31 years and 11 months.

The financial set-up of the Project consists of a 26,5-year bank advance for an amount of Euro 735 million . The financing syndicate consists of the following banks: La Caixa, BBVA, West LB, ICO, Natixis and Banco Sabadell.

The stations of Section II will be brought into service progressively during 2012 and 2013. These stations add to those of Section IV, in turn granted in concession to the IRIDIUM-led consortium and form part of the longest metro line in Europe with 47.8 kilometers and 52 stations. According to forecasts it will transport nearly 100 million passengers a year.
.

Back