Sacyr Vallehermoso has won a Chilean road concession worth €270 million, the Spanish infrastructure developer said in a statement.
Sacyr estimated it will derive revenues of €792 million from the concession over the course of its 35-year life and placed its investment in the project at €270 million.
The Autopista Concepcion–Cabrero project includes, among other works, the construction of a 102 kilometre stretch of highway in the Biobío region in Central Chile, as well as the construction of four new bridges, according to a statement from Chile’s Ministry of Public Works.
A spokesperson for Sacyr said the ministry is yet to officially confirm the company’s contract award but will do so as a next step in the process.
The Ministry of Public Works said Sacyr’s competition included developer OHL and Consorcio CBB, a consortium that included construction and engineering firms Besalco, Belfi and Dragados. Sacyr provided the lowest bid for the concession, according to the Ministry of Public Works.
Sacyr’s concessions unit was established in 1996 and currently has projects under development in Chile, Portugal, Costa Rica, Italy, Ireland and Spain, according to its website.