Peruvian holding SAASA Global secures financing for its cargo warehouse at Madrid-Barajas Airport
SAASA Global, a subsidiary of the Peruvian company Servicios Aeroportuarios Andinos (SAASA), has secured financing for the construction of its first cargo warehouse at Madrid-Barajas Airport. The credit agreement, signed with Frux Capital, amounts to €14 million, covering 70% of the total projected investment of €20.5 million.
According to the company, the remaining 30% of the investment will be funded with internal resources from Grupo Andino, SAASA's parent company. The signed agreement has a two-year maturity period, with the option to extend for an additional year.
"In this financing process, Cuatrecasas acted as legal counsel for the lender, CBRE was responsible for the lender’s Due Diligence, and Montero Aramburu served as legal advisors for SAASA Global. Additionally, the financial advisor for the entire operation was Beka Finance—a group of companies with extensive experience in these processes," explained Enrique Vargas, General Manager of SAASA.
Agreement for the Construction of the Cargo Terminal
Alongside securing financing, SAASA Global finalized an agreement with Napisa for the construction of the cargo warehouse, which will cover 6,100 m² on a 14,000 m² plot of land. The contract is valued at €8.4 million and has an execution period of 11 months, with work set to begin on April 1 and completion scheduled for February 28, 2026. The agreement includes the construction of the warehouse, offices, maneuvering areas, and perimeter fencing.
Additionally, a contract has been signed with SACO Airport Equipment for the manufacturing, installation, and commissioning of the necessary warehouse equipment, with an estimated budget of €2.8 million and an execution period of 11 months.
Capacity and Job Creation
The cargo terminal will have a transfer capacity of over 80 million kilograms per year and will feature 1,200 m² of climate-controlled facilities, essential for maintaining the cold chain for perishable goods. It will also house a Border Inspection Center for cargo entering the European Union, making it a key entry point. The warehouse is expected to create over 150 direct jobs.
With this investment, SAASA Global positions itself as the third-largest third-party cargo logistics operator at Madrid-Barajas Airport, further strengthening its presence in the international air cargo and logistics sector.
AUTOR
Contando la aviación desde marzo del año 2000. Fundador y Managing Editor de Aviacionline.
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