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| Cintra has a second toll road concession in USA Madrid. Cintra, an operator of toll road and car park concessions, has been selected as preferred bidder for a 75-year concession to maintain and operate the Indiana Toll Road (ITR). The project represents a purchase price of approximately 3, 850 million dollars (3, 173 million euro) with an estimated equity IRR (Internal Rate of Return) of approximately 12.5%. The Indiana Finance Authority (IFA) has granted the project to the consortium of Cintra (50%) and Macquarie Infrastructure Group (50%). The project reinforces Cintra's presence in the US, a strategic market for the company, where it has operated for the last year: it has a 99-year concession to operate the Chicago Skyway (1.83 billion dollars), which links with the Indiana Toll Road, and it is developing the Trans-Texas Corridor, one of the most ambitious infrastructure projects ever undertaken in the US, as a strategic partner. The deal must be approved by the Indiana's Legislative Assembly in the coming weeks. The concession agreement may be signed by the end of March and the financing completed before 30 June 2006. Cintra, a subsidiary of Ferrovial, is one of the world's leading private-sector developers of transport infrastructure, with committed investment of more than 2, 100 million euro in concession companies' equity. Cintra operates over 2, 000 kilometers of toll road, with managed investment totaling more than 11, 000 million euro. write your comments about the article :: © 2006 Construction News :: home page |