Paris-based infrastructure fund manager Meridiam has reached commercial close for a 30-year concession for the design, construction, financing and operation of 40 kilometers of the A334 freeway in Almeria, Spain. Meridiam will team up with Acciona and Cintra/Ferrovial on the deal, its first in Spain. According to a statement from Meridiam, the concession involves an investment of €150 million ($200 million).

The project was awarded to the Meridiam consortium in January. Meridiam specializes in long-term project funding and management in Europe and North America and has about €2.4 billion ($3.2 billion) under management.