Sacyr recorded a project backlog of €10.6 billion ($10.9 billion) at the end of 2024, up 42% from 2023. The concessions sector became crucial, representing 71% of the backlog, primarily driven by contracts in Chile and other markets. Major contracts like the Lima beltway and Chile’s airport network underpinned this growth, indicating Sacyr’s strong position in infrastructure development throughout Latin America.
Sacyr, a Spanish construction firm, concluded 2024 with a remarkable project backlog of €10.6 billion (approximately $10.9 billion), marking a 42% increase from the previous year. This surge was primarily attributed to new contracts within its concessions division, which now accounts for 71% of the total backlog, up from 51% at the end of 2023.
The concessions sector represented 73% of the new contracts awarded to Sacyr in 2024, totaling €2.29 billion out of €3.13 billion. Consequently, the backlog for Sacyr Concesiones reached €7.48 billion, reflecting a substantial growth of 98% compared to the prior year. Chile, alongside Spain, contributed 14% to the total backlog while Italy (26%) and the US (16%) were the leading markets.
Significant contracts awarded in 2024 included the Lima Periférico beltway worth $3.4 billion and Chile’s northern airport network valued at $316 million. Additionally, Sacyr reported that Chile’s Itata highway, estimated at $564 million, was also included in previous contracts. The firm has submitted the lowest bid for Chile’s Route 68 concession (valued at $1.4 billion), while awaiting the official contract award.
Furthermore, Sacyr is involved in the Melipilla-Santiago railway section, valued at $1.88 billion, which recently received finalization from Chile’s state rail company, EFE. The company is also on track with bidding for Chile’s inaugural desalination concession. Aside from Chile, Sacyr maintains infrastructure projects across Colombia, Paraguay, Uruguay, Mexico, and Brazil.
In summary, Sacyr’s significant growth in project backlog predominantly stems from its concessions division, with substantial contributions from Chile and key awarded contracts. The company’s diversified portfolio in Latin America, including multiple infrastructure projects, positions it favorably in the industry. The outlook for Sacyr remains positive, highlighting its expansion and project acquisition in Chile and elsewhere.
Original Source: www.bnamericas.com
