Cespa, Ferrovial Servicios' environmental services and waste management subsidiary, has been awarded new contracts in Madrid, the Canary Islands and Castilla-La Mancha. Cespa was awarded the 76.3 million euro street cleaning contract for the Chamberí area (Madrid), which has a population of 150,000. This contract runs until 2014. Cespa is now one of the leading providers of municipal services to Madrid's City Government. This contract will lead to a significant increase in the workforce assigned to street cleaning in Madrid (currently 1,400). The company is set to include state-of-the-art technology in its street cleaning unit in an effort to reduce pollutant emissions and save water. Spain's Environment Ministry, through the Directorate General for Biodiversity, selected Cespa to carry out restoration work on water courses and repair damage caused by floods and fires in El Hierro and Tenerife (Canary Islands) and in Toledo province. This contract includes reforestation work to repair damage from the 2007 fires in Tenerife. This project is the largest of its kind today in Spain; the budget is 9 million euro.
About Ferrovial Servicios Cespa, a subsidiary of Ferrovial Servicios, employs 15,700 people, and is a leading provider of environmental services and waste management in Spain and Portugal. It also provides infrastructure management, upkeep and maintenance services in Spain and the UK, and its airport handling subsidiary, Swissport, is the world leader in its industry. In 2007, Ferrovial Servicios obtained 4.619 billion euro in revenues and increased its backlog by 12.7% to 9.726 billion euro. Capital expenditure in 2006 increased by 114% to 422 million euro.