Sacyr has obtained a €516 million concession in Chile for the Itata Route, which includes improvements to existing roads and the construction of new infrastructure. This concession will extend for a maximum of 45 years and represents a significant investment in Sacyr’s infrastructure projects, further solidifying Chile’s role as a key market for the company.
Sacyr has announced the acquisition of a new concession in Chile, specifically the Itata Route. This project entails an investment of €516 million and focuses on the improvement, construction, maintenance, and operation of both existing and new infrastructure. Key components include enhancing the current Route 152 (75.1 km) and Route 158 (14.1 km), as well as constructing a 6.9 km dual carriageway that will facilitate direct access between Route 152 and Route 146. Sacyr is already holding the Concession for Valles del Biobí, which connects the towns of Concepción and Cabrero. The maximum term for this new concession is set at 45 years.
The Itata Route concession represents another significant venture for Sacyr in Chile, effectively extending their existing operations in the region. Chile remains one of Sacyr’s primary markets, projected to generate an EBITDA of €225 million in 2024, which constitutes 20% of the total for Sacyr’s Concessions division, along with projects in Italy. The transalpine market is currently Sacyr’s largest, followed by Colombia, where the annual EBITDA exceeds €300 million. Furthermore, Sacyr is actively consolidating its mature concession projects within the Voreantis vehicle, anticipating the sale of a minority stake during the current financial year.
In summary, Sacyr’s latest concession in Chile demonstrates the company’s commitment to expanding its infrastructure portfolio. The Itata Route project, with a substantial investment of €516 million, highlights the ongoing significance of Chile in Sacyr’s operations, contributing 20% to the Concessions division’s EBITDA. As Sacyr continues to streamline its projects, this venture not only solidifies its position in Chile but also prepares the groundwork for future growth.
Original Source: thecorner.eu
