A new award for Iridium Concesiones in North America. The Ministry of Transport of the Province of Ontario has chosen a consortium led by the ACS Group to undertake the concession contract for the design, construction, financing, operation and maintenance of the Highway 427 extension project worth 255 million euros. The winning Consortium is led by the Canadian subsidiary ACS Infrastructure Canada, with a share of 50% in the company, together with a local partner, Miller Infrastructures.
Dragados Canada, the Canadian subsidiary of Dragados, is the leading firm in the construction Joint Venture of the project, which also features the presence of local firms Miller Infrastructures and BOT Infrastructure. The scope of the contract includes an extension of 6,6 km and lane widening along approximately 4 km of the existing route. The new configuration of the highway will play a key role in the mobility of the metropolitan Toronto area and in the access to its Pearson international airport. The works included in the contract will cover the new toll lanes for car pool vehicles, another of the initiatives covered by the Transport Ministry.
The ACS Group is currently leading the operation and maintenance works of another of the star projects of the Ministry of Transport of Ontario, the The Rt. Hon. Herb Gray Parkway, whose works were concluded in 2015. Those commercial and funding closures of the Highway 427 project are scheduled for March of 2017.
Consolidation of the ACS Group in the North American concession market.
The award of the contract for Highway 427 is an essential step for the consolidation of the ACS Group in the North American concession market. Iridium's concession portfolio North America currently represents and investment value of more than 14 million euros. The portfolio also includes the following Canadian projects: highway A-30 in Montreal (opened to traffic in December 2012), the South Fraser Perimeter Road in Vancouver (opened to traffic in December 2013), the Rt. Hon. Herb Gray Parkway in Ontario (open to traffic in 2015), the closure of the Edmonton North East Anthony Henday ring road in Alberta (open to traffic in 2016), the new Ottawa LRT line (entry into service planned for 2018), the new Champlain Bridge in Montreal (under construction), and the Eglinton Crosstown LRT line in Toronto, also under construction.
The ACS Group occupies first place in the ranking of international constructors compiled by the publication Engineering News Record and, since 1994, it has held top spot in the international ranking of investors in infrastructure, prepared by the publication Public Works Financing..