Isolux Infrastructure Increases its Share Capital by €600 Million
MADRID, July 2, 2012 /PRNewswire/ --
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 kilometres 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.
About Isolux Corsán
Isolux Corsán is a benchmark world-wide in the businesses of power, concession, construction and maintenance of major infrastructure projects. It operates in over 30 countries spanning four continents. Its main growth drivers are the construction of large transport infrastructure, such as toll roads, railways, air- and sea-ports, hydro-power plants, and residential and non-residential buildings. Isolux Corsán (through its subsidiary, Isolux Infrastructure) manages concessions of 5,533 km of power lines in Brazil, India and the USA; 1,610 km of toll roads in India, Brazil, Mexico and Spain, and develops and manages 286 MWp of solar photovotaic power in Italy, Spain, India, Peru and USA. In the international power industry, Isolux Corsán is one of the biggest operators installing and maintaining transmission and distribution infrastructure, one of the largest construction companies in engineering, procurement and construction (EPC) projects in the photovoltaic sector, and ranks high amongst the major EPC power plant operators. The Group also manages over 22,000 parking spaces under concession in its Spanish carparks. In 2011, Isolux Corsán's revenues stood at €3.37 bn, its EBITDA at €393m and its portfolio at €43.11 bn.
SOURCE Isolux Corsan