WASHINGTON, Nov. 25, 2013 /PRNewswire/ -- Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, has been selected by Empresa de Transporte de Pasajeros Metro S.A. to develop the electrical system for two new lines of the Santiago de Chile metro and maintain the system for a 20 year period, in a contract worth approximately $100 million.
Abengoa will be responsible for the engineering, equipment, assembly, testing and commissioning of the substations for the two new lines, as well as training Metro de Santiago staff. The company will also be responsible for maintaining the substations for a 20 year period.
The two new metro lines that Abengoa will develop are in addition to the five existing lines in the city of Santiago, creating a parallel route to the busiest passenger line. The works of the future L6 line, which will connect the communes of Cerrillos and Providencia, are due to be completed in 2016, while the L3 line between the communes of Huechuraba and La Reina, will be ready in 2018.
The Santiago metro, one of the most modern systems in Latin America, is the second longest in the region after Mexico City and the seventh most regular in the world in terms of frequency. The project will be the largest expansion undertaken in the history of the metro of the Chilean capital and will benefit more than one million Santiago residents, significantly reducing travel times.
This new contract will consolidate Abengoa's leadership position in Chile where it has been present for 25 years. It has carried out numerous hydraulic and electrical infrastructure projects in the country, helping the areas and sectors that it supplies to develop.
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)