Abengoa closes financing of PPP prison project in Uruguay

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Abengoa closes financing of PPP prison project in Uruguay

Abengoa has closed the financing for the Montevideo prison public private partnership (PPP) project in Uruguay, the first PPP in the country.

The total project investment, US$90 million, has been financed by issuing project bonds in the Uruguayan capital markets.

This project, which will be developed on an area of 50,000 m², consists of the design, construction, equipping and financing of a new prison for 2000 inmates and the provision of services such as maintenance, cleaning, feeding, laundry and sale of grocery goods. The contract term will be 27.5 years.

The Ministry of Defense will remain responsible for the security, healthcare and recreational activities for imprisoned individuals.

In May 2014 the project was awarded to the consortium Unidad Punta de Rieles, which is composed of Teyma Uruguay SA (Abengoa Group), Instalaciones Inabensa SA (Abengoa Group) and Goddard Catering Group Uruguay SA (Uruguay)

Abengoa has been present in Uruguay since 1980, its most important projects in the country include the extension and remodeling of the drinking water plant in Aguas Corrientes, the Montevideo to San Carlos transmission line and the Palmatir and Cadonal wind farms.

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