Abertis seeks US$290mn for Chilean highway projects

VíasChile, a subsidiary of Spanish toll road operator Abertis, is seeking US$290mn from banks to finance upgrades and expansions to two of its highway concessions, routes 68 and 57.

The operator is in talks with BCI, Scotiabank and Bicecorp to seal a financing deal that would entail US$220mn for route 68, operated by Rutas del Pacífico, and US$70mn for route 57, operated by Autopista Los Libertadores, IIICorp reported citing a company statement.

VíasChile did not respond to a BNamericas request for the original press release.

Route 68 is a 141km highway between capital Santiago and the port city of Valparaíso. Last October, VíasChile CEO Luis de Pablo told daily Pulso that Rutas del Pacífico signed an agreement with the public works ministry (MOP) to advance a project to widen certain sections of the road, which could cost US$150mn.

Route 57 is a 116km highway running north from Santiago and forms part of the road to Mendoza in Argentina.

Another project in VíasChile's pipeline is the widening of the Santiago-Talagante stretch of route 78, operated by Autopista del Sol. Last March, VíasChile agreed to invest 110mn euros (US$126mn) to carry out the work in exchange of having its concession contract extended until 2021, according to a press release from Abertis.