Madrid-based company SAASA Global has begun construction of an air cargo terminal at the Adolfo Suarez Madrid-Barajas Airport.
The terminal will be in ramp 4 of the airport and tendered for handling, storage, transport, and distribution of goods and air cargo activities.
The investment for the project amounts to around €20.5 million. Around 70% has been financed and the remaining €6.5 million euros will be assumed by SAASA Global.
SAASA Global closed the financing agreement with Frux Capital for €14 million, with a two-year maturity and the possibility of extension to one more year. The agreement includes a bullet repayment at maturity, as well as mortgage guarantees from SAASA Global and a corporate guarantee for the assets of Andino Investment Holding, the Peruvian holding company of the group.