The Mexican division of Spanish construction firm OHL has obtained a loan of 900mn pesos (US$73mn) from Spanish banking giant BBVA to finance one of its local highway projects.
OHL Mexico subsidiary Autopista Urbana Norte will use the funds to partially finance construction of the capital's elevated Periferico beltway, the firm said in a report to Mexico City's bourse BMV.
The short-term loan from BBVA has a 12-month maturity. OHL did not specify the interest rate.
In July, OHL Mexico signed a 30-year concession contract to build and operate the Periferico's northern stretch, which runs over 9km from the San Antonio intersection to the Parque de Chapultepec road.
The project, including the 21km stretch awarded to the ICA-Ideal consortium, is expected to require a total investment of 16.5bn pesos, BNamericas reported previously.