|
|
Challenging the Wisdom of the Trans Texas Corridor.
|
| Research Resources | |
|---|---|
|
Cintra Ranks First Among Bidders for
February 28, 2007 By Joao Lima Feb. 28 (Bloomberg) -- Cintra Concesiones de Infraestructuras de Transporte SA, which runs Toronto's 407-ETR highway, said its bid to build the $3.46 billion SH 121 toll road in Texas won top ranking from state authorities. A group that's 85 percent owned by Cintra was picked as the "apparent best value proposer'' by the Texas Department of Transportation, the Madrid-based company said today in a regulatory filing. A fund run by JPMorgan Asset Management is Cintra's partner in the group. The 50-year project includes designing, building and managing a 42-kilometer (26-mile) highway with an electronic toll-collection system, Cintra said. The awarding of the contract must be ratified by the Texas Transportation Commission. Cintra, controlled by builder Grupo Ferrovial SA, has targeted contracts in North America, where the company is part of teams running the Indiana Toll Road and operating the Chicago Skyway. About 68 percent of the company's revenue comes from outside Spain. Shares of Cintra fell as much as 45 euro cents, or 3.4 percent, to 12.72 euros and were down 2.1 percent at 12.88 euros as of 9:22 a.m. in Madrid. The stock has gained 1.3 percent this year, giving the company a market value of 6.63 billion euros ($8.7 billion). A team including Cintra and Macquarie Infrastructure Group last year won the Indiana Toll Road bid after offering the state $3.85 billion in exchange for collecting tolls over 75 years. Macquarie was a losing bidder for the Texas highway project. Cintra is interested in 44 projects involving investment of about 72 billion euros in Europe, North America and Australia, Cintra Chief Executive Enrique Diaz-Rato said Feb. 22. |
|
|
FAIR USE NOTICE. This document may contain copyrighted material whose use has not been specifically authorized by the copyright owner. CorridorWatch.org is making this article available for academic research purposes in our non-commercial, non-profit, effort to advance the understanding of government accountability, civil liberties, citizen rights, social and environmental justice issues. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in Title 17 U.S.C. Section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. CorridorWatch.org does not express or imply that CorridorWatch.org holds any claim of copyright on such material as may appear on this page. |
This Page Last Updated: Wednesday February 28, 2007