Central Highway, a high-capacity motorway belonging to Vias Chile, a subsidiary of Abertis in this part of South America, signed agreement with the Government of Chile for the construction of two one-way tunnels (1.5 kilometers each) which will unite the territories in Greater Santiago.
The total amount of the project will exceed 300 million euros (almost 286,500 million pesos) and works are expected to start in the first half of 2022 and is expected to last for 40 months (3.3 years)The Spanish company reported today Sunday through a statement.
“The agreement represents a significant investment designed to decongest one of the busiest areas in the north from Santiago de Chile, “according to the note.
Specifically, the project refers to exchange between the General Velásquez section of the Central Road and the Américo Vespucio Norte section of the Santiago ring road.
“The project will involve fuel savings and travel time for road users, by improving traffic flow and enabling Santiago de Chile to reduce pollution associated with high traffic volumes. In this sense, moreover, the project includes 22 hectares of new public leisure spaces, of which more than 6 hectares will be for green spaces“, explains the Abertis statement.
“Central Highway, concession currently manages 62 km on the North-South axis of the Metropolitan Area of Santiago de Chile until 2032, is the highway with the highest volume of traffic in the country and is one of six concessions in the Abertis portfolio in Chile. As part of the agreement, there will be a 20-month extension to this concession. “
Abertis points out that “in the first half of 2021, Abertis’ EBITDA in Chile was 174 million euros, a significant part of the 1.6 billion euros of EBITDA recorded by Abertis in the first half. During 2021, Chilean highways experienced a sharp rebound in traffic, showing a recovery from 2019 levels from July“.
“The operation responds to Abertis’ strategy of extending the average duration of its assets and strengthening its commitment to public-private entities with a view to enhancing long-term value creation and providing sustainability solutions for the territories in which it operates through agreements with public administrations “, the note states.