ACS increases its control in the SH-288 toll highway concession in Houston

Advances in its expansion in the North American market

The ACS Group reinforces its position as a reference shareholder of the SH-288 highway, from which it consolidates its leadership in the infrastructure market in the United States.

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El Grupo ACS has reached an agreement with Clal Insurance through its subsidiary IRIDIUM, for the acquisition of an additional 12,11% of capital in the concession of the SH-288 toll highway, in Houston, United States for approximately €250M. With this operation, the Grupo ACS increases its participation again after the purchase on August 31, now holding 78,38% of the capital invested in the project.

 

The closing of the operation is still subject to obtaining the pertinent administrative approvals and compliance with the conditions precedent of this type of agreement, as well as the closing of the previous purchase and sale operation of 44.65% to InfraRed Capital Partners, Northleaf Capital Partners and Star America.

 

The concession is part of a 3-year public-private participation (P52) contract awarded in 2015 by the Texas Department of Transportation to the consortium led by IRIDIUM, a consortium in which the construction companies of the ACS Dragados USA Group and Pulice Construction.

 

The ACS Group responds to the commitment to continue expanding the concessions business and its commitment to the North American market, in which the group accumulates more than 15 transportation infrastructure assets

 

This contract includes the financing, design, construction and operation of four new toll lanes in the median of the corridor and its accesses, the rehabilitation and improvement of the existing highway roads and links, and access to the hospital complex known as Texas Medical Center. This is one of the most important infrastructure works undertaken in the Houston metropolitan area, which after its opening to traffic in 2020 contributes significantly to alleviating congestion problems in one of its most populated areas. On average, the corridor is traveled daily by more than 160.000 vehicles, of which approximately 14.000 choose to use the new toll lanes.

 

IRIDIUM leads the operation and maintenance tasks of the highway section, including the management of the new lanes through the application of a toll rate that will vary depending on the level of congestion. Toll collection is carried out through a Free Flow type electronic toll collection system, and the latest technology in intelligent highway management is used for the operation of the lanes.

 

ACS Group in the United States market

With this operation, the ACS Group reinforces its position as a reference shareholder of the SH-288 highway, from which it consolidates its leadership in the infrastructure market in the United States, and from which it advances its expansion strategy in the North American market. of concessions. Currently, IRIDIUM has six public-private participation contracts in United States, with a management value of more than 6.000 million euros.

 

Likewise, the ACS Group responds to the commitment to continue expanding the concessions business and its commitment to the North American market, in which the group accumulates more than 15 transport infrastructure assets with a management value of more than 20.000 million euros.