Abertis and Goldman Sachs Infrastructure Partners II-led consortium Autopistas Metropolitanas de Puerto Rico has signed a $1.1bn concession contract with the Puerto Rican Government to manage the PR-22 and PR-5 toll roads.

Under the concession contract the consortium will manage 87km of toll roads for a period of 40-years.

The PR-22, also known as the José de Diego Motorway, is the busiest toll road in Puerto Rico with an average daily traffic of 84,000 vehicles and connects the capital San Juan with the city of Arecibo.

The PR-5, which opened in 2006, is a 4km extension of the PR-22 running through the San Juan metropolitan area in Bayamón.

In the consortium Abertis Infraestructuras will have a 45% stake while Goldman Sachs Infrastructure Partners II will have a 55% stake.

About 40% of the deal has been funded through capital contributions by the partners and the rest will be 60% financed with long-term debt.