ACS Group, through its subsidiaries, ACS Infrastructure Canada (Iridium) and HOCHTIEF PPP Solutions, has completed the sale of its 50% ownership interest in the Northeast Anthony Henday project (“NEAH”) to Meridiam Infrastructure for an enterprise value of 650 Million Canadian dollars (438 million Euros).
In 2012, ACS was awarded this public-private partnership (P3) project, with a total investment value of 1.5 billion Canadian dollars (over 1 billion Euros), which included the construction of 27 km of 6- and 8-lane divided roadway (9 km of new construction and 18 km of highway reconstruction) and a total of 48 bridge structures. Construction was finalized on schedule, opening to traffic in October 2016.
NEAH forms the northeastern segment that completed the Anthony Henday Drive ring road around the City of Edmonton. The ring road is a vital part of AlbertaÂ’s provincial road network, with an estimated 50,000 motorists using it daily, improving mobility, access and quality of life for Edmonton residents and Albertans.
ACS continued expansion in the North American P3 market ACS strengthen its balance sheet with this transaction, in order to continue to invest in its North American portfolio. ACSÂ’ P3 asset portfolio in North America is worth more than 28 billion Canadian dollars (19 billion Euros) and includes the New Champlain Bridge in Montreal, which opened to traffic last week.
ACS Group is ranked first among the list of World Top Transportation Developers by Public Works Financing Magazine and # 1 in the ranking of Top International Contractors by Engineering News Record.
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