Sacyr Concesiones has completed the refinancing of Chile's Rutas del Desierto motorway PPP project. The total refinancing package consists of US$157.7 million divided in three parts provided by Banco Estado, Banco Bice and Banco Consorcio.

This refinancing package will substitute the prior financing package agreed with Banco Estado, Banco Consorcio and  Corpbanca bank.

The concessionaire comprises Spain's Sacyr Concesiones (51%) and local equity partners Inversiones Camino Dos (24.5%) and Inversiones Auguri Limitada (24.5%).

The Rutas del Desierto motorway PPP project connects the airport to the city of Iquique. The whole project involves the development of a two-lane 78.4 km-long motorway. The road is located in the First Region of Chile (Region of Tarapacá), running through the municipalities of Pozo Almonte, Alto Hospicio and Iquique.

The project includes the construction of service roads, the construction of two bypasses, several level changing structures, various U-turn ramps, emergency areas and footbridges, among others.

The project is divided in two sections:

• Route 1, which has been already opened, measuring 31.4 kilometres and
• Route 16, from its junction with Route 5 to Iquique, spanning 47 kilometres.