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| Hochtief sells share in Chilean toll highway German builder Hochtief successfully sold shares of 45.45 percent in the operating company of the Vespucio Norte Express toll highway in Santiago de Chile. The transaction is worth approximately EUR 230 million. The buyer is a consortium led by Brookfield. The closing - including pending approvals - will be completed by the end of the year. After successful completion, Hochtief will have no more shares in the project. Vespucio Norte Express is one of the most modern road connections worldwide: In operation since January 2006, the link is one of the busiest roads in the Chilean capital. Hochtief had planned, financed and built the link on the basis of a BOT contract (Build, Operate, Transfer) and has been operating it since its opening. In 2001, the company together with partners had received the contract for the 29-kilometer section of the toll beltway around Santiago de Chile from the Chilean Ministry for Public Works. The Hochtief consortium expanded the existing road into a three-lane highway, built 19 interchange structures, took over extension of the drainage channels and completed the integrated toll and traffic control system (multilane free flow) ready-for-operation. The multilane free flow system is considered to be the world's most modern fully electronic toll system that is used as an integral and sub-system-compatible system for the five highway concessions in Santiago de Chile with a total length of around 150 kilometers. write your comments about the article :: © 2012 Construction News :: home page |