Central highway, a high-capacity highway belonging to Vias Chile Holding, a subsidiary of Abertis in this part of South America, has signed agreement with the government of Chile on the construction of two one-way tunnels (1.5 kilometers each) which will connect the territories within Greater Santiago.
Total project amount will exceed 300 million euros (almost 286,500 million pesos), and work is expected to begin in the first half of 2022. and is expected to last 40 months (3.3 years)The Spanish company reported this week through a statement.
“The contract is a significant investment designed to deconstruct one of the busiest areas in the north from Santiago de Chile “, reads the note.
In particular, the project relates to loop between the General Velasquez section on the central highway and the Americo Vespucio Norte section on the Santiago bypass.
“The project will include saving fuel and travel time for users of these roads, by improving the flow of circulation and will enable Santiago de Chile to reduce the pollution associated with high traffic volumes. In that sense, in addition, the project includes 22 hectares of new public spaces for leisure, of which more than 6 hectares will be for green areas“, Explains Abertis’ statement.
“Central Highway, currently a concession manages 62 km on the north-south axis of the metropolitan area of Santiago in Chile by 2032, it is the highway with the highest volume of traffic in the country and it is one of six concessions in the Abertis portfolio in Chile. As part of the agreement, 20 months will be extended for this concession. “
Abertis points out that “in the first half of 2021, Abertis’ EBITDA in Chile amounted to 174 million euros, a significant part of the 1.6 billion euros of EBITDA that Abertis recorded in the first half. During 2021, Chilean highways experienced a strong recovery in traffic, showing a recovery from 2019 levels since July“.
“The operation is in line with Abertis’ strategy of extending the average duration of assets and strengthens its commitment to public-private entities with the aim of strengthening long-term value creation and providing sustainability solutions for the territories in which it operates through agreements with public administrations,” the note said.