Ferrovial lands 7 billion pesetas in contracts in Portugal


EdificationThe company´s backlog in Portugal totals 60 billion pesetas a 6-fold increase in 12 months Ferrovial is also involved in the concession management and real estate businesses in Portugal: it manages the Scut toll road in the Algarve and is developing over 1,000 homes Ferrovial Agroman, the Ferrovial Group´s construction company, has been awarded three construction contracts in Portugal that are worth a total of 7 billion pesetas. Two of the projects are in the construction of Lisbon´s north-south rail link, and the third is for the construction of the "Cascais Villa Shopping Center" mall and leisure center in Cascais. The railway projects, worth 4.5 billion pesetas, include renovating and improving a 3 km. stretch of track between the Entrecampos and Chelas stations and designing and building the Roma-Areeiro station, located on that stretch of line. The "Cascais Villa Shopping Center" project, budgeted at 2.5 billion pesetas, has a 14-month execution period and involves building a shopping mall and leisure center, a 3-floor underground parking garage with room for 657 vehicles, and a connection with the city´s bus terminal. 60 billion pesetas in backlog in Portugal - 6 times the 1999 year-end figure Ferrovial obtained major construction contracts in Portugal during 2000 and its construction backlog in that country now stands at 60 billion pesetas, up from 10 billion pesetas in 1999. The main projects under way in Portugal include the Scut del Algarve toll road, 12 km. of the Autopista Sur toll road, the Estoril Conference Center, the Entrecampos railway station, and numerous residential buildings. Ferrovial Agroman´s construction backlog outside Spain amounts to over 185 billion pesetas. In the concession business, Ferrovial subsidiary Cintra manages the Scut del Algarve toll road, a concession involving 40 billion pesetas in investment which expires in 2030. Cintra also operates 9 parking garages in Lisbon with room for a total of 3,400 vehicles. Ferrovial is also one of the leading property developers in Lisbon, where it has been operating for over 10 years. Ferrovial Inmobiliaria is currently building over 1,000 homes, including most notably the Malhoa complex, which involves twin 25-floor tower blocks and a shopping mall.


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