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FCC and Sacyr Vallehermoso win contract to build and operate the M50 Highway in Dublin (Ireland

22/03/2007

FCC and Sacyr Vallehermoso win contract to build and operate the M50 Highway in Dublin (Ireland

  • FCC's holding will form part of Global Vía's portfolio

Ireland's National Roads Authority has selected the ICON consortium, which comprises FCC (45%), Sacyr Vallehermoso (45% through its infrastructure subsidiary, Itinere) and PJ Hegarty (10%), as Preliminary Preferred Tenderer to design, build, finance and manage the M50 ring road in Dublin, Ireland.

The concession is for 35 years. Work is expected to commence in August 2007 and be completed early in 2011.

The project includes 41 kilometres of the central roadway of Dublin's M50, between the junction with the M1, to the north of Dublin, and the southern junction with the N11. The contract consists of:

. Expanding and upgrading 24 kilometres between the M1 and N3 junctions and between the Ballymount and Sandyford junctions (expanding to 3 lanes each way and improving junctions). This expansion is divided into three parts: Phase 1 (north section), Phase 2 (south section) and Phase 3 (junction with N3).
. Operation and maintenance of:

  • The expanded and upgraded sections (24 km.).
  • The section between the N4 and N7 junctions (7 km.), whose design and construction is covered by another contract.
  • The section between the N3 and N4 junctions (1.3 km.), whose design and construction is covered by another contract.
  • The section between the Sandyford and N11 junctions (11 km.), for 7 years (only routine and winter maintenance).
  • The road will have a free-flow tolling system. The concession will receive a payment for availability from the government as consideration for the investment and services. The payment will be subject to penalties based on lane closures (duration, day and time, number of lanes closed, and length of closed lane).

This the consortium's second concession in Ireland. In 2006, it obtained a 35-year concession to design, build, finance and manage the N6 Galway-Ballinasloe highway. That project, for which the final contract will be signed in the next few weeks, includes 56 kilometres of tolled dual carriageway between Galway and Ballinasloe, a 7-kilometre single-carriageway link to the Loughrea bypass, and 32 kilometres of access roads. Construction of the road will cost approximately 350 million euro.

The M50 is the first concession obtained by FCC since 30 January 2007, when it and Caja Madrid grouped their infrastructure holdings into their newly-created joint venture, Global Vía Infraestructuras, S.A. The company's initial capital stock is 250 million euro and it has holdings in 35 infrastructure concessions, basically roads, commercial ports and marinas, metro and tram lines, and hospitals.