Sunday, February 5, 2023

ACS takes over 78% of the SH-288 highway in Texas.

ACS Group have got it authority to increase their participation in the concession of SH-288 Toll Road of Texas (USA), on the other side of the Atlantic. entered into an agreement with the group Clall Insurancethrough its subsidiary iridiumto get a 56.76% Equity at the toll road concession located in Houston for the price of 1,063.62 million Euro’s ACS already has 78,38% With this new acquisition comes the amount of capital invested in the project, as reported by the company to the National Securities Market Commission (CNMV) in the relevant information earlier this Wednesday.

The group has reported authority This Wednesday the CNMV was formalized in October 2022. In late August 2022, the group announced that it 66,27% of the concession company. one purchase is complemented by the acquisition of another 12.11% extra in October, for 250 million Euro, following an agreement with Clal Insurance. The closing of this purchase was subject to the administrative approval and compliance with the usual conditions required for this type of agreement, a step that Florentino Perez’s group has already completed.

ACS Group Concession for 17 km stretch SH-288 Toll Road in Texas is part of a contract for public Private Partnership For 52 years, the group’s subsidiary-led consortium was awarded in 2015 by the Texas State Department of Transportation. iridium, The consortium also has the presence of other group construction companies such as Dredging USA why Police Construction.

The contracts awarded to Iridium for the highway concession include financingDesign, construction and operation of four new lanes of toll In the middle of the corridor and its access, rehabilitation and improvement of roads and links to the existing highway and access to the Texas Medical Center hospital complex.

Over 160,000 vehicles per day on SH-288 Highway

It is one of the most important infrastructure works in the metropolitan area. Houston, After the motorway opens to traffic in 2020, it contributes to reducing problems crowd In one of the most populous cities in the United States. According to ACS data, the SH-288 toll highway functions Over 160,000 vehicles a dayof which around 14,000 already choose to use the new streets toll.

iridiuma subsidiary of the group, in charge of the operations and Maintenance Highway section. It is also responsible for managing new channels through the application of a free Which will vary depending on the level of the crowd. Toll collection is done through general electronic toll collection system, type Free Flow. In addition, ACS uses the latest technology intelligent highway management for train operation.

ACS Group strengthens its position as a reference shareholder in the SH-288 toll highway and North American country. particular, iridium is already six contracts Public-private partnerships in the United States, as reported by the group, cost them all the most. 6,000 million Euro’s The group plays a significant role in the North American market concessions Thanks to its subsidiaries.

Nation World News Desk
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