Sacyr Secures €516 Million Concession for Itata Route in Chile

Sacyr has secured a €516 million concession for the Itata Route in Chile. The project will improve existing roads and add new infrastructure. Chile is a key market for Sacyr, with projected EBITDA of €225 million in 2024, representing 20% of its Concessions division’s total. The company is also consolidating projects within its Voreantis vehicle for potential minority sales.

Sacyr has been awarded a new concession in Chile known as the Itata Route, with an investment value of €516 million. This project encompasses the enhancement, construction, maintenance, and operation of both existing and new infrastructures. Key improvements include upgrades to Routes 152 (75.1 km) and 158 (14.1 km), as well as the introduction of a new 6.9 km dual carriageway connecting Route 152 to Route 146—currently under Sacyr’s management through the Valles del Biobí company, which links Concepción and Cabrero. The concession has a maximum term of 45 years.

This new project marks Sacyr’s continued expansion in Chile, serving as a de facto extension of an existing undertaking. Chile stands as a significant market for Sacyr, projected to contribute an EBITDA of €225 million in 2024, accounting for 20% of the total EBITDA of its Concessions division, which also includes Italian projects. The transalpine market is Sacyr’s largest sector, with Colombia following closely, reporting an annual EBITDA of over €300 million. Furthermore, Sacyr is currently consolidating various mature concession projects within the Voreantis vehicle, aiming to sell a minority stake in this financial year.

In summary, Sacyr’s new concession in Chile demonstrates its commitment to infrastructure development in the region. The Itata Route project not only enhances existing roadways but also reflects the company’s strategic focus on consolidating its operations and generating significant EBITDA from its international endeavors. This move underscores Chile’s importance in Sacyr’s portfolio, allowing for future growth and investment.

Original Source: thecorner.eu