Sacyr has acquired a €516 million concession in Chile for the Itata Route, enhancing existing roads and constructing new infrastructure, thus extending its current project. This marks a vital investment with significant returns expected from the Chilean market.

Sacyr has received a new concession in Chile, specifically for the Itata Route, which necessitates an investment of €516 million. This project entails the enhancement and maintenance of existing roadways, as well as the construction of additional infrastructure. Improvements will target Routes 152 and 158, and it will introduce a new 6.9 km dual carriageway connecting Route 152 with Route 146, currently under the concession of Sacyr’s Valles del Biobí company, linking Concepción to Cabrero. The concession has a duration of up to 45 years.

This new concession signifies an important expansion for Sacyr in Chile, functioning as an extension of a project already in progress. Chile remains one of Sacyr’s primary markets, projected to yield an EBITDA of €225 million in 2024, accounting for 20% of the Concessions division’s total, which also encompasses projects in Italy. The transalpine sector represents Sacyr’s largest market, closely trailed by Colombia, which contributes over €300 million annually in EBITDA. Currently, Sacyr is consolidating mature concession projects into the Voreantis vehicle, with plans to divest a minority interest within this financial year.

In summary, Sacyr has secured a new €516 million concession in Chile for the Itata Route, extending their existing operations. This development highlights the significance of the Chilean market for Sacyr, contributing notably to the company’s revenue through the Concessions division. Furthermore, Sacyr’s strategic grouping of projects under the Voreantis vehicle indicates their ongoing commitment to expansion and investor engagement in the infrastructure sector.

Original Source: thecorner.eu