Ferrovial will grow in the United States this year with a new highway in texas, NTE 35W Segment 3C, which the company plans to inaugurate next September. After its entry into operation, the group led by Rafael del Pino and Ignacio Madridejos expects the asset to start distributing dividends and thus boost the remuneration it obtains for its payment methods in the US market, a top priority in its growth strategy.
Ferrovial will change its headquarters from Spain to the Netherlands next June, in accordance with the indicative calendar managed by the group. It will be then when it will begin to be listed on the Euronext in Amsterdam as a previous step to make the leap to the United States stock market. The company’s forecast is for this to happen before the end of this financial year. With this, the multinational, still Spanish, seeks to obtain more liquidity from American investors and lower financing costsalso promoting its international projection and, especially, in the US market.
The NTE 35W stands in the expansion of the NTE through segments 3A and 3B. It spans 27.5 kilometers along Interstate I35W through downtown Fort Worth. The highway came into operation in 2018 and the concession will end in 2061. In 2019, a consortium led by Ferrovial was awarded the contract to expand the track with segment 3C, which involves the construction of two Managed Lanes in each direction north of NTE 35W, with a length of about 10.8 kilometers. The company and its partners They plan to open it to traffic in September 2023. The design and construction works were 90.3% complete at the end of 2022. Once this section comes into operation, the NTE 35W will begin to distribute dividends, for which the group already expects to obtain revenues from this road in 2023 .
The company received 388 million in dividends from its toll roads in the world
railway received 388 million euros in 2022 for the dividends of its highways in the world, compared to 469 million in 2021. The company expects that “the main infrastructure assets continue to distribute dividends consistently according to their operating performance.”
New opportunities
Ferrovial, through Cintra, currently has five highways in operation in the United States: the LBJ, the NTE and the NTE 35W, all of them in Texas, the I-66, in Virginia – it came fully operational last month November – and I-77, in North Carolina. The five routes contributed to the group income of 611 million euros in 2022, 44.4% more than the 423 million in 2021, and a gross operating result (ebitda) of 498 million euros, 45% more than in the previous year. previous exercise. Besides, in Canada the firm has the 407 ETR, its main asset in the world. Cintra also manages projects in the United Kingdom, Spain, Colombia, India, Australia, Ireland and Slovakia.
railway aspires to add more assets in the United States and is currently among the finalists to bid for the SR400 in Atlanta (Georgia) and the I-10 Calcasieu River in Louisiana. It also maintains active monitoring of various projects in other states that are expected to come onto the market in the coming months. The group is also advancing a private initiative to widen I-77 in North Carolina with a new highway, I-77. South Extension. The estimated investment reaches 2,478 million dollars (2,400 million euros).
On the other hand, Ferrovial announced yesterday the appointment of Patricia Leiva as the new Director of Communication and Corporate Responsibility, replacing Francisco Polo, who is leaving the company due to retirement after 13 years in office.
