Sacyr has been awarded the Itata Route concession in Chile, valued at €516 million, focusing on enhancing existing infrastructure. This project signifies an extension of ongoing works, contributing to Sacyr’s strong performance in the Chilean market, expected to yield €225 million EBITDA in 2024. Additionally, Sacyr is consolidating mature projects and plans to sell a minority stake in the Voreantis vehicle this financial year.
Sacyr, a prominent infrastructure group, recently announced the acquisition of a new concession in Chile, specifically the Itata Route, valued at €516 million. This project encompasses enhancements in construction, maintenance, and operation of existing and new road works, including significant upgrades to Routes 152 and 158, along with a new dual carriageway connecting Route 152 to Route 146. Notably, this new concession has a maximum duration of 45 years.
This concession marks another significant achievement for Sacyr in Chile, effectively extending an ongoing project by the Group. Chile remains a crucial market for Sacyr, projected to generate an EBITDA of €225 million in 2024, accounting for 20% of the overall EBITDA for the Concessions division, which includes initiatives across Italy. Additionally, Sacyr’s largest market is in the transalpine region, closely followed by Colombia, generating over €300 million annually.
Furthermore, Sacyr is actively consolidating its mature concession projects under the Voreantis vehicle, anticipating the sale of a minority stake during the current financial year. This strategy underscores Sacyr’s commitment to fortifying its presence and operational efficiency in its key markets.
In conclusion, Sacyr’s recent concession in Chile underscores its strategic growth in the region, particularly through leveraging existing projects. The significant investment of €516 million reflects the Group’s commitment to enhancing infrastructure and generating substantial EBITDA in key markets. With plans to consolidate projects and seek minority investments, Sacyr is poised for continued success in the infrastructure landscape.
Original Source: thecorner.eu
