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| New European construction work to road goers in Santiago Just opened Américo Vespucio Norte Express in Chile’s capital city is expected to see around 50, 000 vehicles a day. It spans 29 kilometres and will be operated over the next 30 years under the “free-flow” toll system, meaning vehicles won’t have to stop. The infrastructure as a whole, which will link Chile's capital city to 9 northern districts and the airport, involved a net outlay of around 400 million dollars and will benefit over 2 million people by more than halving the time spent travelling and by improving the city's urban infrastructure. Construction of the Vespucio Norte Express urban motorway got underway in April 2003. The consortium responsible for the work is made up of the ACS Group (with a 54% stake), Hochtief (45%) and the Chilean construction companies Belfi and Brotec (each with a 0.5% holding). The project marks the ACS Group’s third toll motorway concession in Santiago. In order to finance the construction and operation of the new motorway, June 2004 witnessed the largest bond issue ever seen in Chile as ACS Group and its partners from the consortium made 425 million dollars in bonds available to investors. write your comments about the article :: © 2006 Construction News :: home page |