Sacyr seeks to widen its Chile horizons

Sacyr is looking to diversify its portfolio in Chile beyond its concessions and public works contracts, while also aiming to maintain its position in the local infrastructure sector.

The Spanish firm’s CEO Manuel Manrique (pictured) told daily Diario Financiero that since 1996 Sacyr has invested US$6.5bn in Chilean projects, including highways, airports and hospitals.

He added that during the first quarter of this year revenues from concessions in Chile were US$41mn, compared with US$39mn in Spain.

“We have an additional US$1bn allocated to invest, for now. We keep making offers for new concessions, we’re not staying still,” Manrique said.

The CEO added that Sacyr has a positive view of the government’s concessions agenda, which includes new projects for airports, the re-tendering of major highway concessions and a US$2.5bn PPP hospital program.

Sacyr is also involved in a private initiative for a new concession for the highway connecting the northern city of Antofagasta with the town of Caldera, which is expected to be put out to tender next year with an estimated US$460mn price tag.

Manrique said Sacyr also has the capacity to take on water projects, particularly desalination and reservoirs.

At the same time, the company is seeking to expand its industrial operations in Chile through mining and electric power projects. “We have to go slowly to avoid unpleasant surprises,” he said.

Regarding mining, Manrique said the firm could provide water treatment solutions for mining operations, and that the group’s mining branch, Sacyr Minería, is studying projects with state copper producer Codelco.