Atizapan - Atlacomulco Highway

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The project scope involves the financing, construction, operation and maintenance of a toll road between Atizapan and Atlacomulco with a total length of 74 kilometers. The road will have four lanes and four junctions. The highway contemplates also the construction of several tunnels and viaducts. Concesionaria AT-AT, S.A. de C.V. is the concessionaire leading the project on behalf of the sponsor OHL Mexico, part of the Spanish company OHL. OHL Mexico won the contract in March 2014 following a public tender offer based on lowest cost of construction and operation criteria. Although the road concession was awarded in 2014, and expected to be completed in 2016, obtaining the right of way was complicated and adjustments had to be made to the line. The delay in the work caused an impact on costs. OHL México won the contract with a construction cost of 5,860 million pesos, and but now the Ministry of Communications and Transportation (SCT) reports a total investment of 9,500 million pesos (approximately $520 million). A syndicate of three lenders is providing the debt: Banobras, Santander and Inbursa. Each of the lenders provided $53.17 million in the form of term loan and Banobras and Inbursa provided additional funds ($79.75 million each) in VAT facility. OHL expects to contribute about 40% of the project cost with its own capital and it had already put most of the equity capital (approximately Ps3 billion) in the project's trust. OHL will replicate the same financing structure as achieved for its Conmex toll road for all of its Mexican highway concessions: tapping the bank market for construction and then refinancing in the capital markets "to accommodate debt to match the real performance of the road". Upon completion the road aims to improve the connectivity of the Metropolitan Area in the Valley of Mexico with the north and west of the country. Financial closure was reported to have reached on September 26, 2017. http://obrasweb.mx/construccion/2017/10/25/la-autopista-atizapan-atlacomulco-tiene-que-esperar-mas-dice-ohl Factiva