MADRID, July 28, 2011 /PRNewswire/ --
- The concessions branch of Isolux Corsán strengthens its position in India where it already manages 710 kilometres of motorways
- The contract features the construction and operation of 1,600 km of high voltage lines with an investment of 815 million euros.
- Isolux Infrastructure is one of the companies leading the concession market for high voltage energy transmission with the management and operation of 5,237 km in Brazil, India and the USA
The concession branch of Isolux Corsan, Isolux Infrastructure, which concentrates on the management and operation of the Group's concession assets, has been awarded the most important concession project for high voltage transmission lines in India and one of the biggest currently unfolding on the world market. The contract features the construction and operation of 1,600 km of high voltage transmission lines and five transformer substations with an estimated investment of 815 million euros. The concession will last for 37.5 years and will be financed according to the Project Finance modality.
The project was awarded by the Uttar Pradesh Power Transmission Corporation Limited in a public tender process for a BOOT (Build, Own, Operate and Transfer) contract which endeavours to reinforce the transmission network in this Indian state in order to transport over 4,600 MW throughout the territory which will be generated by the new thermal power stations which are under construction in the east of the region.
The new network will enable evacuating the energy from new power stations and will transport it throughout the state which has the highest population in India (with an estimated population of more than 200 million inhabitants) and a high industrial demand. The project represents a qualitative improvement to the network by adding five transformer substations which will mark out the 1,600 kilometres of lines with voltages of 765 kV and 400 kV.
Growth in Concessions
With this project, the Isolux Corsán Group reinforces its presence on the concessions market in India where it already manages 710 kilometres of motorways in four concessions with an investment in excess of 2.0 billion euros which has converted it into the main European company for infrastructure development operating in this country.
This new contract award allows it to penetrate the concessions high voltage energy transmission market in India, which is a sector in which the Group is one of the world leaders with a total of 5,237 kilometres of high voltage transmission lines in Brazil, the USA (Texas) and now in India.
For Isolux Corsán India represents the main commitment made by the Group in Asia, and one of the most important in its growth strategy abroad. Recently (24/05/2011), the company signed a joint venture with the fund Morgan Stanley Infrastructure (MSI), in order to jointly invest $400 million US dollars in this country intended for the development of new road infrastructure projects with long term concession contracts.
About Isolux Infrastructure
Isolux Infrastructure is the concessions branch of Isolux Corsan which concentrates on the management and operation of the Group's concession assets amongst which are the Group's road and energy infrastructure concessions with an investment of more than 7.500 B € and an accumulated annual growth rate of its EBITDA of 70%. The following Isolux Infrastructure assets are worth highlighting: Motorway concessions: it has more than 1,600 kilometres in concession distributed in countries such as India (710 km in four concessions), Brazil (680 km), Mexico (155 km in two concessions) and Spain (64 km). Transmission line concessions: it manages and operates more than 5,237 kilometres between Brazil (3,032 km in five concessions), India (1,600 km) and the USA (605 km). Generation of photovoltaic solar energy:it is leader in the generation of photovoltaic solar energy with 42 photovoltaic power stations in operation with an installed capacity of 168 MW and an annual generation capacity of 250 GW/h of clean energy. The company also has 60 MW under construction and a pipeline of 900 MW in the south of Europe, Latin America, India and the USA. The geographical diversification of Isolux Infrastructure enables it to be present both in emerging countries (India, Brazil, Mexico, Peru) and in countries with consolidated economies (USA, Italy, Spain). This combination of developing environments with others which are already consolidated provides the new organisation with a huge response capacity with regard to the evolution of the market.
About Isolux Corsán
Isolux Corsán is a leading company in the fields of engineering, construction and the concession of large infrastructures throughout the world. It undertakes its activity in more than 30 countries on four continents. Isolux Corsán has vast experience in the construction and maintenance of large infrastructures: motorways, railways, airports, civil, hydraulic and maritime works and residential and non-residential building. In the energy sector, the Group is one of the largest world developers of EPC projects in the photovoltaic sector with more than 267 MW in operation in 2010. It shares an important position amongst the leading constructors of EPC generation plants with 1,500 MW under construction and also in industrial processes with the execution of turnkey projects in the oil and gas sector and biofuel plants. In the concessions sector, in addition to those operated by Isolux Infrastructure, the Group constructs and operates more than 21,000 car park spaces. In 2010 the company's registered revenue was over 3.240 billion euros with a gross operating income of 311 million euros and an accumulated business portfolio of 30.180 billion euros. For further information: http://www.isoluxcorsan.com
SOURCE Isolux Corsan