Sacyr has been awarded a €516 million concession in Chile for the Itata Route. This project includes enhancing and constructing key roadways and will last up to 45 years. Chile contributes significantly to Sacyr’s EBITDA, with future sales of minority stakes planned for mature projects.

Sacyr recently announced the acquisition of a new concession in Chile, specifically for the Itata Route, which entails a substantial investment of €516 million. This project includes the enhancement, construction, maintenance, and operation of both existing and new infrastructures. Key components are improvements to Routes 152 (75.1 km) and 158 (14.1 km), along with a new 6.9 km dual carriageway connecting Route 152 to Route 146, part of Sacyr’s current concession via the Valles del Biobí company. This new concession is set for a maximum duration of 45 years.

This concession represents an extension of Sacyr’s ongoing projects in Chile, affirming the nation as a core market for the company. In 2024, Sacyr anticipates generating an EBITDA of €225 million from Chile, accounting for 20% of the entire Concessions division’s EBITDA. Alongside Italy, Chile stands as a significant venture, with Colombia also contributing over €300 million annually.

Sacyr is actively consolidating its mature concession projects through the Voreantis vehicle. The organization plans to sell a minority stake in this vehicle within the current financial year to enhance its operational efficiency and capitalize on the growing market demands in Latin America.

In conclusion, Sacyr’s recent concession for the Itata Route in Chile signifies a strategic extension of its existing operations in the region, highlighting its commitment to expanding its infrastructure portfolio. With a noteworthy EBITDA forecast and plans for minority stake sales in mature projects, Sacyr is poised to strengthen its market presence in Chile and beyond.

Original Source: thecorner.eu