NGE announced the commissioning of the Ferrocarril Central in April 2024. Credit: NGE/ PRNewswire.

NGE Concessions and its shareholder partners SACEEM, Sacyr Concesiones and BERKES, have closed an additional $110m financing for the Ferrocarril Central project.

This railway line, which commenced operations in December 2023 and inaugurated in April 2024, is now operational completely for freight, with UPM operating it from pulp mill.

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The maintenance period, spanning 22 years, has begun.

The Ferrocarril Central project, a public-private partnership (PPP), has previously received financings totalling $858m, $75m, $250m in 2019, 2020 and 2022, respectively.

The latest round of financing includes $65m from Allianz Capital Partners and $45m in Indexed Units from CAF Asset Management.

The consortium Grupo Vía Central, made of NGE and partners, has thus reinforced the financial stability of the project.

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These additional funds will bolster the project’s commitment to sustainable development in Uruguay.

This financing demonstrates NGE’s capability to engage both international and local financial partners in significant infrastructure projects.

The 22-year maintenance contract underlines NGE’s long-term commitment to the project and Uruguay’s development.

This financial move aligns with the NGE Group’s strategy to fund infrastructure pivotal to the ecological transition in its operational territories.

Stakeholders in the Ferrocarril Central project include the Grupo Vía Central consortium, with financial participants Inter-American Development Bank, Allianz Capital Partners, CAF Asset Management, Andean Development Corporation, Intesa Sanpaolo, Sumitomo Mitsui Banking, and Global Infrastructure Partners.

The main advisors for the transaction were Astris Finance, Baker McKenzie, Dentons Jimenez de Aréchaga, Clifford Chance, and Ferrere.

NGE is responsible for the development and arrangement of projects funded by the group.