04/05/2015

Sacyr, through its subsidiary Sacyr Concesiones, has sold 49% of its stake in the concession company of Ruta del Limarí (Chile) to investment fund Prime Infraestructura II, which is managed by CMB-Prime Administradora General de Fondos SA, for 93.8 million euros (63,36 billion Chilean pesos), debt linked to concession included.

Sacyr Concesiones will own 51% of the concession company that will build the highway between Ovalle and La Serena and operate it for 30 years. The construction investment is expected to be 176 million euros.

The concession includes works for improving the current 86 km section of the road linking the two cities by adding an additional lane. The new highway means the current road will have two lanes along its entire length, including the Las Cardas ascent, a 17 kilometer bypass and U-turn points every 5 kilometers. The works include a new connection towards La Serena by the Las Torres avenue in Coquimbo and road improvements in the Pan de Azúcar sections of Coquimbo and of Recoleta (Ovalle).

This highway, together with the ones between La Serena and Vallenar as well as Vallenar and Caldera (also owned by Sacyr Concesiones), will provide a continuous link of nearly 500 kilometers.

This transaction forms part of Sacyr Concesiones' strategy to open up its concessions to partners, thus maximizing asset profitability and raising capital to undertake new concession projects (greenfield), where Sacyr is the worldwide leader.

Sacyr Concesiones Chile currently manages an investment of 2.3 billion dollars through 7 public works concession contracts with committed equity of 400 million dollars. The concession contracts currently under construction are: La Serena-Vallenar (187 km); La Serena- Ovalle (85 km); Accesos a Iquique (80 km), the first section of which was commissioned on November 4; Concepción-Cabrero (103 km); Américo Vespucio Oriente (9 km) and Antofagasta Hospital (671 beds). We must also include the Vallenar-Caldera section (227 km), which has been in operation since 2011. Sacyr is the leading construction and concession company in Chile through Sacyr Chile and Sacyr Concesiones Chile, respectively.

Sacyr Concesiones encompasses Sacyr's infrastructure concessions business and has more than 30 assets spread over six countries (Spain, Portugal, Chile, Italy, Ireland and Peru) in the sectors of motorways (almost 3,000 kilometers), transport hubs, hospitals (over 3,000 beds), subway lines and airports.

N.P_Ruta del Limarí highway (Chile)
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