Sacyr has been awarded a €516 million concession for the Itata Route in Chile, which includes upgrades and new construction. The project extends an ongoing initiative, highlighting Chile as a key market generating significant EBITDA for Sacyr, which is looking to consolidate mature projects through its Voreantis vehicle.

Sacyr has secured a new concession in Chile, namely the Itata Route, worth €516 million. This project entails the enhancement, construction, maintenance, and operation of both existing and new infrastructure. Key developments include upgrading Routes 152 (75.1 km) and 158 (14.1 km), as well as constructing a new 6.9 km dual carriageway that will connect Route 152 to Route 146, which is already under Sacyr’s management through the Valles del Biobí company, serving the Concepción and Cabrero municipalities. This concession will span a maximum term of 45 years.

This award marks another significant concession for Sacyr in Chile, effectively extending an existing project. Chile represents one of Sacyr’s core markets, projected to generate an EBITDA of €225 million in 2024, accounting for 20% of the overall concessions division, which also includes initiatives in Italy. The transalpine sector is Sacyr’s largest, with Colombia closely trailing, boasting an annual EBITDA exceeding €300 million. Currently, Sacyr is working to bundle its mature concession projects within the Voreantis vehicle, with plans to divest a minority share during this fiscal year.

In summary, the recent €516 million concession awarded to Sacyr for the Itata Route reflects the company’s robust position in the Chilean market. This project not only enhances existing routes but also emphasizes Sacyr’s strategic focus in consolidating its mature concession endeavors, poised to generate substantial EBITDA in the upcoming fiscal year as it continues its expansion plans.

Original Source: thecorner.eu