March 21, 2023

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Ferrovial Highway Company seeks to grow in India after completing its entry into IRB | Companies

Highway concession CindraOf the group Pharmacology, Has become a leading agent in the concession industry in India, where it wants to go further. The Spanish company has closed the purchase agreement 24.86% of IRB Infrastructure Developers’ Capital, Owner of 24 projects with a total of 2,500 km of roads under administration. Agreement Released October 26th.

The company he heads Rafael del Pino reiterated this morning that I see great growth opportunities in India considering his concession plans. Although planned for the first quarter of 2022, the move is expected to be sealed by the end of this year. 369 million. This requires a preferred capital increase by IRP Infrastructure developers.

Pharmacology Is Related Minority Partner And enters the group of investors. Cindra will now support IRB in the analysis of its growth and new investments, but the management of the company will remain in the hands of its largest shareholder. Virendra D. Mysker.

Between 2022-2025, India is expected to invest over 24 240,000 million in highways; As well as more than 18,000 million privatizations

Created in 1998, IRB Infrastructure Developers is listed on the Bombay Stock Exchange. Today it is one of the largest companies in the infrastructure sector in the Asian country. Represents about 20% of its so-called 24 highways Gold quartetFerrovium explains a road network that connects the main poles of India’s economic growth.

Its perks include the highway From Mumbai to Pune, Is considered one of the most important in the country. Its revenue last year was 30 630 million and its EBITDA was 0 310 million. The business model integrates the process of concessions and construction, presence in promoted infrastructure projects in India and significant achievement record of project awards.

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The IRB construction area, currently operating exclusively for its own concession projects, has developed a 14,000-kilometer railway line. The company recently closed the 20 km long highway between Chittoor and Thachur in Tamil Nadu. The IRB has also provided for the design, financing, construction and operation of a 129.7 km stretch of the Ganga Expressway between Meerut and Padaun.

Infrastructure development projects are thriving in India as public-private partnerships have been on the rise in recent years. Over the 2022-2025 period, investment in motorways is expected to exceed 24 240,000 million; As well as privatizations of more than ,000 18,000 million.