The Sacyr-led consortium, Rutas del Este, has closed the financing of the  Routes 2 and 7 road project for a total investment of EUR440 million (US$500 million). 

The project will be financed by loan packages structured by Goldman Sachs and the Inter-American Development Bank (IDB Invest). Sacyr and Paraguayan firm Ocho A which owns 60% and 40% of the project, respectively, will contribute EUR70 million (US$80 million) each. 

The funds secured will be used in the splitting of the two main roads in Paraguay: Route 2, between the capital, Asunción, and Coronel Oviedo; and Route 7, between Coronel Oviedo and Caaguazú.

The road projects will be improved, operated, and maintained by Rutas del Este.