Tecsa to operate as holding

Chilean firm Constructora Tecsa will begin operating as a holding in January with five autonomous and segmented business units, Diario Financiero and Estrategia reported. The units will be Tecsa Constructora, Tecsa Montajes, Tecsa Especialidades, Tecsa Inmobiliaria and Tecsa Internacional. "The change is due to requirements of an ultra competitive and professionalized market, which implies having lower costs, capacity to compete with large foreign companies in Chile and overseas, flexibility to associate with other companies and have access to the latest technology," Diario Financiero quoted general manager Enrique Loehnert as saying. Tecsa is major player in Chile's construction and concessions market, participating in the construction of capital Santiago water utility Aguas Andinas' US$315mn La Farfana wastewater plant; a US$10mn wastewater treatment system for Region XII capital Punta Arenas; and forming part of consortiums that operate transport infrastructure concessions.