Madrid regional government, Spain, is mulling the acquisition of the MP-203 unfinished toll road from Cintra.
The MP-203 would connect the A-2 and the R-3 roads in the province of Madrid. It is estimated that the road needs a total investment of €20 million (US$21.9 million) to be finished. The investment would be used to finish 300 m of the road and to pave a total of 12.5 km.
Cintra abandoned the project eight years ago after having invested about €70 million (US$76.9 million) to develop the road. The company won the tender process for the 30-year concession in 2005, but later, in 2007, the firm abandoned the project because it did not obtain permissions to connect the road to the R-3 highway.
Madrid regional government aims to acquire and finish the project to reduce traffic congestion in the section of the A-2 road between Alcala de Henares and Madrid. The government also aims to save money due to the fact that the new highway will reduce traffic in the M45 road, which is operated by a private concessionaire under a demand-based payment mechanism.
The government is currently negotiating a debt hair cut and deferred payments to acquire the road. Further details of the potential deal have not been disclosed.