FCC Construcción signed the financing contract for financing the concession contract for the upkeep and operation of motorways on 23 May.

The contract covers the A-3 and the section of the A-31 in the province of Cuenca between its boundaries with the provinces of Madrid and Albacete and involves two agreements between the concessionaire and the Royal Bank of Scotland and the European Investment Bank in project finance mode.

The financing agreement is the first signed between all the companies adjudicated the 10 sections already under way under the First Generation mMtorways renovation plan set up by the Ministry for Development to update the First Generation Motorways, built in the 80s in the frame work of National Roads Plan, to the quality and safety requirements of the most modern ones and shows the banks' backing and commitment for the tender and project presented by FCC Construcción.

FCC Construcción was adjudicated the public works concession for the upkeep and operation of the A-3 from km 70.000 to km 177.530 and of the A-31 from km 0 to km 29.800, in the province of Cuenca between its boundaries with the provinces of Madrid and Albacete, in November 2007 and signed the €277 million contract on 26 December.

The concession will last for the next 19 years, operated by the concessionaire Autovía Conquense Sociedad Anónima (Auconsa) in shadow toll mode.