ACS buys the remaining 21.62% in the SH-288 toll road concession in Texas for 391 million


The ACS Group has reached an agreement with Shikun & Binui through its subsidiary Iridium for the acquisition of an additional 21.62% of capital in the SH-288 toll road concession, in Houston (United States), for approximately 391 millions of euros.

With this operation, ACS increases its participation, going on to hold 100% of the capital invested in the project, as reported this Saturday to the National Securities Market Commission (CNMV).

The closing of the transaction is still subject to obtaining the relevant administrative approvals and compliance with the preceding conditions of this type of agreement.

The concession is part of a 52-year public-private partnership contract, awarded in 2015 by the Texas Department of Transportation to the consortium led by Iridium, a consortium in which the construction companies of the ACS Group Dragados USA and Pulice also participated. Construction.

This contract includes the financing, design, construction and operation of four new toll lanes in the median of the corridor and its accesses, the rehabilitation and improvement of the roadways and links to the existing highway, and access to the hospital complex known as Texas Medical. Center.

Likewise, it is one of the most important infrastructure works undertaken in the Houston metropolitan area, which, after opening to traffic in 2020, significantly contributes to alleviating congestion problems in one of its most populated areas.

On average, the corridor is used daily by more than 160,000 vehicles, of which approximately 14,000 choose to use the new toll lanes.

Iridium leads the operation and maintenance tasks of the highway section, including the management of the new lanes through the application of a toll rate that will vary depending on the level of congestion.

With this operation, the ACS Group reinforces its position as a reference shareholder of the SH-288 motorway, from which it consolidates its leadership in the infrastructure market in the United States, and from which it advances in its expansion strategy in the North American market concessions.

Currently, Iridium has six public-private partnership contracts in the United States, with a management value of more than 6,000 million euros.

Likewise, the ACS Group responds to the commitment to continue expanding the concession business and its commitment to the North American market, in which the group accumulates more than 15 transport infrastructure assets with a management value of more than 20,000 million euros.

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