The Puerto Rico Highway and Transportation Authority (PRHTA) and PR Toll Roads (Metropistas) have completed the financial closing of the public-private partnership (P3) for four existing toll roads in San Juan, Puerto Rico.
The $2.85 billion concession agreement featured the participation and support of a group of local and international banks, including Banco Popular, FirstBank, Oriental, Banesco, ING Group, Société Générale, Crédit Agricole and Intesa Sanpaolo. This transaction brought Japanese banks Mizuho, MUFG Bank and Sumitomo Mitsui Banking Corp. (SMBC) into the local market.
The project seeks to improve safety standards, service levels and the quality of infrastructure for toll roads in Puerto Rico. After a rigorous and competitive study, bidding and analysis process, the Government of Puerto Rico selected Spanish infrastructure operator Abertis Infraestructura to carry out the financing, repair, design, construction, operation and maintenance of the PR-52