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Category: Concessions Corporate / July 2, 2012
Isolux Corsán, through its concessions subsidiary, has reached an agreement with the Public Sector Pension Investment Board for a €500 million investment in Isolux Infrastructure with an additional €100 million being contributed by Isolux Corsán.
This investment will strengthen Isolux Infrastructure’s global leading position in its businesses operating the Group's concessions in toll roads, high-voltage power lines, and photovoltaic electricity generation. Isolux Infrastructure, led by its CEO Santiago Varela, has major capital investment projects totalling approximately €7.5 billion.
This transaction, which forms part of the global development and diversification strategy rolled out by Isolux Corsán over the last five years, will boost Isolux Infrastructure's capacity to expand. Isolux Infrastructure is the subsidiary of Isolux Corsán that has grown strongest in recent years.
For Isolux Infrastructure, the agreement is a testament to its success in positioning itself as a global player in its field, and demonstrates confidence in its capacity to manage major road and power infrastructure projects.
Last year, the company increased its international networks of power lines managed under concession after winning the largest power contract in India (in Uttar Pradesh, with total capex of €815m). It currently manages 5,533 kilometers world-wide and has since won further tenders in Brazil. Isolux Infrastructure is a world leader in this business, also operating in the United States, where it has 605 km of power lines in Texas.
Isolux Infrastructure manages 1,610 km of toll roads in India, Mexico, Brazil and Spain, of which 1,400 km are already under operation. In the photovoltaic power business, the company (through T-Solar) develops and manages 286 MWp in Italy, Spain, India, Peru and the USA.
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