Ferrovial acquires transmission concession in Chile
Ferrovial has reached an agreement to acquire Transchile Charrúa Transmisión, S.A. (Transchile) from Brazilian companies Alupar and Companhia Energetica de Minas Gerais (Cemig).
Transchile owns a 204-kilometre transmission line linking the Charrúa and Cautín substations in southern Chile. Transchile was founded in 2005 when it was awarded to build and the rights to operate the double-circuit 220 kV power transmission line between the substations of Charrúa (Biobio region) and Cautín (Araucana). The line came into service in January 2010. Transchile is owned 51% by Alupar and 49% by Cemig.
Once funded, the operation will represent an investment of US$72 million by Ferrovial. The deal, to be completed in the next few months, provides Ferrovial with a foothold in the Chilean power transmission business.
Ferrovial has identified power transmission as part of its business diversification strategy. Its experience in construction and in concessions equip it to enter this new business. The Transchile acquisition also provides it with a platform for future projects in Chile and other countries that offer opportunities to build and operate power lines.
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