The Spanish company, through Sociedad Concesionaria Autopista Central, will carry out the project to construct two tunnels under northern Santiago’s Lo Ruiz hill.
Highway operator Abertis announced Tuesday that it will invest some US$408 million (370 million euros) in road works in Chile’s capital.
The Spanish company announced that, through VíasChile Group’s Sociedad Concesionaria Autopista Central, it would carry out the project to construct two tunnels under northern Santiago’s Lo Ruiz hill.
“The roadwork investment amounts to approximately 370 million euros and creates 620 new jobs,” the company said.
“Bidding for project construction will begin this year, and work will start in the first half of 2025. Construction is expected to take 50 months and will be offset by a 25-month extension to Autopista Central’s concession contract,” they added.
Sociedad Concesionaria Autopista Central manages the operation and maintenance of one of the Metropolitan Region’s main arteries. The Route 5 and General Velásquez axes cross Santiago from north to south, totaling 60.5 kilometers, according to a note from Abertis.
Last August, the Spanish infrastructure group expanded its presence in Chile after winning the Santiago-Los Vilos Route 5 concession through its subsidiary VíasChile, in which it will invest US$1.1 billion over seven years.
Abertis manages a portfolio totaling more than 8,000 kilometers around the world. Sixty percent of its EBITDA comes from Europe and the United States, while 40% is from Latin America.
Source: Diario Financiero.