The Sacyr-led Grupo Vía Central consortium (GVC) has raised a senior loan of $855m to finance the Uruguay Central Railroad project.

The Uruguay Central Railroad project comprises the rehabilitation and construction of a 273km railway line, which connects Uruguayan capital Montevideo and the city of Paso de los Toros.

The project will need an investment of $1.07bn.

The consortium raised funds from SMBC, Intesa San Paolo, IDB, CAF and CAFAM.

The consortium partners will contribute $155m while the authorities in Uruguay will invest $60m.

Sacyr holds a 40% stake in the consortium, while Uruguayan companies Saceem and Berkes respectively own a 27% and 6% stake. French company NGE holds the remaining 27% stake in the consortium.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The consortium received the contract in May.

According to the contract, GVC will finance, design and construct the project for 36 months. The consortium is also responsible for maintenance services for 18 years.

The overall project works include modernising the signalling systems, upgrading the railway level-crossings and overhauling 25 stations and passenger stops along the route.

GVC has completed the initial stage of the financial structuring to carry out the work.

In May, Inter-American Development Bank (IDB) Group member IDB Invest approved a $500m financial package for the Central Railroad project.

This rail connection is an integral part of Uruguay’s development. This project will link the Finnish firm UPM-built cellulose factory with the Montevideo port.