Spain’s A21 motorway gets €182m of financial help

Autovía del Pirineo has secured €182 million for the construction and operation of several sections of the A21 motorway in Spain’s northern Navarre region.

Autovía del Pirineo is a subsidiary of 3933 Iridium Concesiones de Infraestructuras and a member of the 917 ACS Group.

International law firm Watson Farley & Williams said that it had advised a syndicate of banks and other European institutional funders on the procurement of senior debt facilities worth €182 million for Pirineo.

The debt is spread over 20 years, according to the law firm.

Spain is launching a new Spanish road building programme and retendering assets currently in operation or recovering projects left uncompleted due to the last financial crisis.

The first section of the A21 was opened in 2006. The planned route of the 110km motorway is from Jaca in Aragon to Pamplona in Navarre. It follows or is an upgrade of the N240 and will link the Autovía A15 east of Pamplona with the Autovía A23 at Jaca to provide access to the southern Pyrenees and the mountain pass from France to Zaragoza in Spain.