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Altán Redes, the consortium in charge of the development of the Red Compartida telecom system PPP in Mexico, has reached the financial close for the project. The total funding commitments have reached US$ 2.3 billion. 

Acording to sources, a total of US$765 million have been provided by local and international private investors and multilateral institutions.

Huawei and Nokia, which also act as technology providers for the project will commit around 37% of the required project funding (US$850 million), with 10-years maturity.

On the other hand, Mexican development banks Banobras, Nafin and Bancomext have inked a deal to provide US$690 million in financing over 13 years.

Altan consortium which will run the Red Compartida over 20 years is comprised of the following companies:

• Marapendi Holding B.V. (33.38%)
• CMF Investment Company II B.V. (23.36%)
• International Finance Corporation (3.34%)
• Isla Guadalupe Investments S.L.U. (3.34%)
• Hansam S.A. de C.V. (9.35%)
• Fideicomiso de Coinversión 2431 (12.68 %)
• FFLATAM 15-2 (6.54 %)
• Mega Cable S.A. de C.V. (4.01%)
• Axtel S.A.B. de C.V. (4.01%)

The project includes design, installation, deployment, operation, maintenance and updating of the Shared Network and Wholesale Telecom Service. The private developer will be responsible for implementing a new telecom system including the optimization of the assigned spectrum (700 MHz band). The total budget for the project is estimated around US$7 billion.