The Grupo Via Central consortium has closed a senior loan for $855 million to finance the construction of a 273-kilometer (169-mile) railway in Uruguay, according to InfraPPP.
The development, known as the Ferrocarril Central project, will connect the country’s capital Montevideo with Paso de los Toros, linking a planned pulp mill to be developed by Finnish firm UPM, with the port located at the capital.
The project includes the design, construction, financing, rehabilitation and maintenance of the railroad, with a concession period of 18 years.
The consortium, led by Sacyr Concessions, contributed $155 million to finance the project, with the Uruguayan Administration adding $60 million. The loan also garnered participation from several financial institutions, including SMBC, Intesa San Paolo, IDB, CAF and CAFAM.
Sacyr Concessions composes 40 percent of the consortium, with Uruguayan companies Saceem and Berkes bringing up 27 percent and 6 perc
