Bonete-Alicante A31 Motorway

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Business Units

Bonete-Alicante A31 Motorway

This contract is part of the Infrastructure and Transport Strategic Plan (PEIT) approved by The Council of Ministers on 15 July 2005.

On 16 April 2007, Ministry of Public Works approved the model for awarding of adequacy reform and conservation of first generation highways concessions. During that year, a total of 993,2 km were awarded divided in 10 contests, for a period of 19 year concession.  Viario A-31 SA was awarded 111.4 km (11.25%) in November 6, 2007.

Grupo Ortiz participates with 21% of the Concessionaire, which started its operation in December 2007.

Within this group of bids (10 contests), Viario A- 31 SA was the third one to complete the committed works.

The investment, which is executed at 100%, was funded with Project Finance.

In 2010 there was an amendment to the contract in which some additional costs of work were recognised. That’s why the Ministry of Public Works contributed with a Participative Loan, 33,8 million Euros to fully repay in the last year of the Concession.

Such contract modification became a rebalancing in which a tariff increase of 36% and a refinancing with greater leverage of the project was approved.

Also in 2010 guarantees were given back to shareholders at the time of financial closure.

The Concessionaire has made financial payments without any incident and shareholders are getting paid interests of participating loan with the Administration, provided to finance investments.

In addition, he is meeting financing requirements of the contract keeping all required ratios over the agreement.


Revenues depend on the number of vehicles driving on each road section, multiplying by the length of each section and the applicable tariffs for each year. The Concessionaire is not suffering significant delays in payments.

Traffic is slightly lower than the figures forecasted in the financial rebalancing as a result of the national drop in traffic due to the economic crisis. However, optimization of operating costs and maintenance places EBITDA at higher levels than initially forecast.

The Concessionaire has not only not been penalized during the years of the contract, but it is being subsidized (with extra income) for the proper performance indicators.

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