Neither participation in the new public company, nor return of part of the investment made by the construction companies Toll on a Spanish highway. Toll on a Spanish highway. The Ministry of Development led by Ana Pastor continues negotiations with the banks to resolve the problem of bankrupt highways, whose debt exceeds 4,000 million euros. The latest move by the department headed by Ana Pastor has been to inform the concessionaires that they are “left out” of the rescue of the highways. “They have already been notified that none of their requests will be attended to,” explain sources familiar with the situation. This will mean significant losses for construction companies with interests in one of the nine highways that are bankrupt and that Fomento has promised to 'rescue' without "costing taxpayers a euro." It affects all the major companies: Abertis, FCC, ACS, Sacyr and OHL.
In the resumption of negotiations in September after the summer break, Fomento has decided to unify all the bankruptcy processes into one and avoid the liquidation of the companies, so "it is no longer necessary for the concessionaires to sign the final agreement . They will simply be set aside,” these sources explain. Furthermore, according Middle East Mobile Number List to the sources consulted, "Fomento has conveyed the message that it is the Government that spends money on infrastructure and that its income depends on the Executive's awards," say sources from the sector. Participate in the sale Before summer, the concessionaires were willing to veto any agreement that did not take into account their conditions, now a dead letter. Among them stood out the request to guarantee a percentage of a possible sale of the public company that is created and that brings together the assets of the nine bankrupt highways when the State sells it.
Now the traffic is as it is, but the normal thing is that in the future the situation will improve and that the State will sell that company and make money . We have made the investments to improve the roads and we wanted a part of the money obtained from that possible future sale,” explain sources from the sector. "But the new mechanism devised by Development to avoid the liquidation of companies leaves out the concessionaires and they only have to negotiate with the bank," explain sources from the sector. At the moment, the conditions negotiated with the banks continue to include a 50% reduction in the debt, while the rest, 2,000 million , will be converted into a 30-year State bond with a profitability that is still being negotiated but could reach 4% for certain sections. The bankrupt radials are: in Madrid, R-2 (Henarsa), R-3 and R-5 (Madrid Access) and the R-4 (Madrid South Highway), and the Eje Aeropuerto highway (M- 12); the AP-41 Madrid-Toledo; the AP-36, which goes from Ocaña to La Roda; Cartagena-Vera (Aucosta); the Alicante ring road (Ciralsa), and the Alicante-Cartagena.
