Spanish contractor Abertis agreed a deal for Puerto Rico’s flagship highway concessions bundle.
Under the plans, the firm will pay Puerto Rico $2.85bn for the operation of the PR-52, PR-53, PR-66 and PR-20 highways, which collectively account for over 60% of the island’s toll traffic and cover 192km.
Abertis hailed the deal as a milestone in its Americas expansion plans, which have been supercharged by a recent deal between Abertis’s parent firm ACS and Mundys.
Commenting on the Puerto Rico deal, Abertis chief executive José Aljaro said “this transaction is set to significantly reinforce one of our priority markets, namely the US, and is confirmation that our growth strategy is clear”.
The firm already had the PR-22, PR-5 and the Teodoro Moscoso Bridge concessions in its Puerto Rico portfolio.