The group headed by Iridium, with 72% and also comprising local partners Mariezcurrena and Elcarte, signed an agreement with the Administración Foral de Navarra for the construction of the Venta de Judas-Yesa (10.2 km) and Yesa-L. P. Zaragoza (6.5 km) sections, together with the operation and maintenance of the six dual carriageway sections of the Pyrenean Dual Carriageway, four of which are already constructed, which run from the Noáin junction to the L. P. de Zaragoza, with a length of 46.1 km. Investment in the project is 241 million euros and the concession period is 30 years.
The works will be completed by the 1st of January 2012 when motorway operation will commence with the handover to the concessionary company of the four already constructed sections by the Navarra Government.
This is a shadow toll system (Demand Fee) combined with non-availability payments (Infrastructure Status and Service Conditions Fee).
Construction, lead by Dragados, the construction company belonging to Grupo ACS, will involve 17 km of new dual carriageway with two roadways, each having two lanes and a five-metre wide central reservation. The route runs through broken terrain and, because of this, the dual carriageway includes two tunnels, one being 1,200 m long and the other 1.600 m, together with several viaducts, one of which is 500m long.
More than ten financial entities have provided the bidder with an offer in terms and conditions for the financing, together with a letter of support. The financing structure included in the project is based on a combination of own funds provided by the concessionary company shareholders and outside bank debt. Financial closing is expected within five months.
.
| Back |
