Saturday, February 24, 2024

Acciona and Sacyr seal the commercial closure of a bridge in the US for 1.9 billion

Stock, Sacyr, and Plenary Americas formalize the agreement with Louisiana authorities to design, build, finance, operate, and maintain the new bridge over the Calcasieu River on the I-10 freeway in Louisiana (United States), valued at 2.1 billion dollars (1.9 billion euros). This is one of the largest infrastructure contracts ordered in North America last year, arising from the need to replace the existing 70-year-old bridge to increase its capacity and strengthen its safety.

According to Acciona, in a statement released this Thursday, the completion of the works is scheduled for 2031, and nine years later, it estimates that it can accommodate an average daily traffic of more than 90,000 vehicles. Along with the transfer of these characteristics, the project will focus on reducing congestion, improving travel times, and increasing the safety of critical infrastructure for Louisiana and the national interstate highway network. Along these lines, the project includes the construction of a six-lane road and the implementation of a ‘free flow’ toll system, in addition to various structures, ramps, and bridge additions.

For the execution of works, Acciona and Sacyr will merge into a joint venture, where the two entities will share 50% of the process. On the other hand, the term of operation and maintenance under the project concession is 50 years and will be implemented within a consortium made up of Acciona (30%), Sacyr (30%), and Plenary Americas (40%). Within this framework, the State of Louisiana itself is also entitled to receive 15% of future dividends from the project.

The origin of this contract dates back to last July when a consortium formed between two Spanish companies and an American company emerged as the preferred option to negotiate the concession of this highway. Half a year ago, they sealed the agreement with the Department of Transportation and Development of the state of Louisiana to be participants in the main project known as ‘Pelican State’.

Step forward for Sacyr and Acciona in the US

For Sacyr, this project represents the first major US transportation infrastructure concession contract, a scenario marked by the company led by Manuel Manrique as a strategic point to support its expansion in the coming years. This is also the case of Acciona, where its participation is framed within its strategic plan to expand its presence in the country in the field of infrastructure, adding to its growing portfolio of renewable energy assets.

World Nation News Desk
World Nation News Desk
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