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10 Oct 2021

Abertis agrees with Chilean Government major capex project in Santiago which will extend Autopista Central concession

Abertis agrees with Chilean Government major capex project in Santiago which will extend Autopista Central concession

  • It involves the construction of two one-way tunnels of 1.5 kilometers each to decongest the Metropolitan Area of Santiago de Chile and which will save fuel and travel time for users by improving circulation flow. In addition, the project will reduce pollution associated with high traffic volumes.
  • The works, which include 22 hectares of new public spaces for leisure, of which more than 6 hectares will be for green spaces, will begin in the first half of 2022 and are expected to last for 40 months.

Abertis announces that Autopista Central, a subsidiary of the holding group VíasChile has signed an agreement with the Chilean Ministry of Public Works (MOP) for the deployment of a major capex aimed at debottlenecking one of the most congested areas in the Northern part of Santiago de Chile. In more details the project relates to the construction of two one-way tunnels (1.5 Km each) connecting territories within the metropolitan area of Santiago de Chile (interchange between the General Velásquez stretch of Autopista Central and Américo Vespucio Norte portion of Santiago ring road). Total project costs are in excess of €300mn. The works are expected to be initiated in the first half of 2022 and be delivered within 40 months.


This project will allow Santiago to benefit from reduced pollution and road users to achieve fuel and travel times savings due to the improved traffic flow. The project includes 22 hectares of new public spaces for leisure, including over 6 hectares of re-greening.


Autopista Central, a concession that currently manages 62 Km in the North-South axle of Santiago de Chile metropolitan area until 2032, is the toll road with the largest traffic volume in the country and is one of the 6 concessions of Abertis’ portfolio in Chile. As part of this agreement, there will be an extension of 20 months for this concession.


In H1 2021, Abertis Chilean EBITDA stood at 174.000 euros, a significant portion of Abertis’ 1.6 billion euros H1 EBITDA. During 2021, Chilean motorways have seen a strong rebound in traffic showing since July a recovery of 2019 levels.


The transaction follows Abertis' strategy to prolong the average duration of its assets and reinforces its commitment to public-private partnerships with the objective to find long term value-creation and sustainability solutions for the territories in which it operates through agreements with the public administrations.

 

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