- Ferrovial has reached an agreement with Transchile Charrúa Transmisión, S.A., owned by Brazilian companies Alupar and Cemig.
- Once funded, the operation will represent an investment of USD 72 million (Euro 64 million) by Ferrovial.
- Since 2010, Transchile has been operating a 204-km. transmission line in southern Chile.
MADRID, 14-Sep-2016 — /EuropaWire/ — Ferrovial has reached an agreement to acquire Transchile Charrúa Transmisión, S.A. (Transchile) from Brazilian companies Alupar and Companhia Energetica de Minas Gerais (Cemig). Transchile owns a 204-kilometre transmission line linking the Charrúa and Cautín substations in southern Chile. Once funded, the operation will represent an investment of USD 72 million (Euro 64 million) by Ferrovial. The deal, to be completed in the next few months, provides Ferrovial with a foothold in the Chilean power transmission business.
Transchile was founded in 2005 when it was awarded to build and the rights to operate a double-circuit 220 kV power transmission line between the substations of Charrúa (Biobio region) and Cautín (Araucana). The line came into service in January 2010. Transchile is owned 51% by Alupar and 49% by Cemig.
FIRST POWER TRANSMISSION PROJECT
Ferrovial has identified power transmission as part of its business diversification strategy. Its experience in construction and in concessions equip it to enter this new business. The Transchile acquisition also provides it with a platform for future projects in Chile and other countries that offer opportunities to build and operate power lines.
Chile is one of the key countries in Ferrovial’s geographical diversification strategy. The company has been operating in Chile since 1996, in the toll roads, services, construction and airports businesses. The Airport of Cerro Moreno in Antofagasta and Panamericana Toll Road has been Ferrovial main assets in Chile. Ferrovial Services currently operates in the Chilean mining industry via Ferrovial Steel. Its capabilities have doubled since the acquisition of Broadspectrum. Ferrovial Agroman is participating in the construction of Los Cóndores hydroelectric power plant and Line 6 of Santiago Metro, among other projects.
Ferrovial is one of the world’s leading infrastructure operators and municipal services companies, committed to developing sustainable solutions. The company has 100,000 employees and operates in over 20 countries. Its main business areas are: Services, Toll Roads, Construction and Airports. It is a member of Spain’s blue-chip IBEX 35 index and is also included in the Dow Jones Sustainability Index and FTSE4Good; all its operations are conducted in compliance with the principles of the UN Global Compact, which the company adopted in 2002.
Jose Luis Cabas