Sacyr has secured a €516 million concession for the Itata Route in Chile, enhancing existing projects. This extension is projected to contribute significantly to the company’s EBITDA in 2024, underscoring Chile’s importance to Sacyr’s operations. The concession has a maximum term of 45 years and is part of broader strategic consolidations within the company.
Sacyr has recently been awarded a new concession in Chile, specifically the Itata Route, which represents an investment of €516 million. This concession includes enhancements, construction, maintenance, and operational responsibilities for both existing and new infrastructures. Key projects involve upgrading the current Route 152 (75.1 km) and Route 158 (14.1 km), as well as constructing a new 6.9 km dual carriageway that connects Route 152 with Route 146, the latter of which Sacyr currently manages via the Valles del Biobí company linking Concepción and Cabrero. The concession has a maximum duration of 45 years.
This new award signifies an extension of existing projects for Sacyr in Chile, solidifying its status as a primary market. Projections indicate that Sacyr’s Chilean operations will generate an EBITDA of €225 million in 2024, which accounts for 20% of the total EBITDA from the Concessions division, including initiatives in Italy. Sacyr’s largest market continues to be Italy, followed closely by Colombia, which yields an annual EBITDA exceeding €300 million. Additionally, Sacyr is strategically consolidating mature concession projects within the Voreantis vehicle, with plans to sell a minority stake in the current financial year.
In conclusion, Sacyr’s acquisition of the Itata Route concession is a substantial extension of its ongoing projects in Chile, reaffirming Chile’s significance to the company’s operations. With a notable projected EBITDA growth and strategic business consolidations underway, Sacyr demonstrates strong market performance and future potential in infrastructure.
Original Source: thecorner.eu
