Sacyr sells 49% of the Ruta del Algarrobo Concessionaire, in Chile

For 161 million euros

The sale is part of Sacyr Concesiones' asset rotation strategy, which involves the entry of strategic partners to maximize the profitability of these assets and obtain capital for the development of new projects.

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Sacyr, through its subsidiary Sacyr Concessions, has sold 49% of Ruta del Algarrobo Concessionaire Company, which manages the highway La Serena-Vallenar, 187 kilometers long, integrated into the strategic Route 5, which runs Chile from North to South and constitutes its main structuring road axis. The operation, which has been agreed with Toesca Infrastructure Investment Fund, managed by Toesca SA General Fund Administrator, amounts to 161 million euros (171 million dollars), including the debt associated with the stake sold.

 

Sacyr Concessions will maintain a 51% stake in Algarrobo Route, a concessionaire that in April 2012 was awarded the construction and operation for a maximum of 35 years of the highway that connects the cities of La Serena, In Coquimbo region, with Vallenar, in the Atacama region. The investment made to date by Sacyr on the highway exceeds 300 million euros (319 million dollars).

 

The sale of 49% of Ruta del Algarrobo is part of the company's asset rotation strategy. Sacyr Concessions, which considers the entry of strategic partners, which will allow maximizing the profitability of said assets and obtaining capital for the development of new concession projects (greenfield), a sector in which Sacyr Concesiones has a world leadership position.

 

 

 

Sacyr's investment in the highway to date exceeds 300 million euros

 

 

 

The highway The Serena-Vallenar It came into operation in May 2015 and practically completes the dual carriageway of Route 5, from Caldera (Atacama Region), to Pargua (Los Lagos Region).

 

La Ruta del Algarrobo Concessionaire Company The company carried out improvement and replacement works on the road, through the construction of a dual carriageway, widening of the shoulders, construction of service roads and turnaround points. It also has new road safety elements, walkways, lighting, bus stops and emergency telephones, as well as technical assistance, service areas and Carabineros, etc.

 

In addition to the safety benefits and savings in travel time, Ruta del Algarrobo brought an important innovation to the road: One of its sections, 2,4 km long, was developed with asphalt mixtures with high percentages of recycled material. This is a joint R&D initiative with CORFO (Production Promotion Corporation), pioneer in Latin America, and which allows the rehabilitation and construction of road pavements with a lower environmental impact, and with lower risk for the people and workers who apply it.