The European Investment Bank (EIB) has signed off on a €160 million (US$173.73 million) loan to upgrade a passenger terminal at the Palma de Mallorca International Airport in Spain.

State-owned airport operator AENA has awarded Acciona the renovation works on Module A and the Son Sant Joan Airport Terminal. The works include aircraft parking facilities that will form part of the west and east wing extensions of Module A, refurbishment and expansion of the airport terminal building, and its connections with the other modules.

The contract, with a deadline of 39 months, is worth €200 million and is the largest of the lots under tender for expanding and upgrading the airport 25 years after it opened.

Acciona has also won the contract for the expansion of Module D, which consists of the construction of three new boarding bridges for €19 million.

The loan aligns with the EIB's transport lending policy, and is a key component of Spain's DORA II airport regulation plan.

Acciona has extensive experience in airport projects. In Spain it was in charge of the construction of the terminal building at Madrid’s Adolfo Suarez Airport, a new runway at the Malaga airport, and a new terminal at the Alicante airport.

Its international experience includes the construction of the runway at the new Western Sydney International Airport (Nancy Bird Walton) in Australia and the control tower at the new airport in Lima, Peru, as well as the expansion of Rome's Fiumicino Airport. The company also provides airport and handling services at several international airports.