By the Portuguese Minister of Social Affairs, Jorge Coelho; the Finance Minister, Joaquín Pina Moura; Ferrovial´s Vice-Chairman, Rafael del Pino and the Chairman of Euroscut, Vitor Domingues dos Santos
In the opinion of Portugal´s Prime Minister Antonio Gutérres, who presided the ceremony, the motorway “will drive the area´s social and economic development and will enhance communications with Spain, Lisbon and the other regions of Portugal”
The contract for the concession of the Scut motorway in the Algarve in the south of Portugal was today signed at a ceremony presided by Portugal´s Prime Minister, Antonio Gutérres, the Minister of Social Affairs, Jorge Coelho, the Finance Minister, Joaquín Pina Moura, Ferrovial´s Vice-Chairman, Rafael del Pino and the Chairman of Euroscut, Vitor Domingues dos Santos. The project for the new motorway involves an investment of some Ptas 40 billion (Escudos 48 billion) and the concession, under the shadow toll regime (the State pays a toll for each vehicle using the motorway), has a duration of 30 years.
The Scut del Algarve motorway was adjudicated on 15 February last to a consortium led by Cintra a subsidiary of Ferrovial´s. Cintra has a 79% stake in the consortium, while a group of seven local firms, under the name of Constructores del Norte, have the remaining 21%. This group of developers has founded the concessionaire company Euroscut, which will build, finance, maintain and run the motorway up until the year 2030.
During the ceremony the Prime Minister of Portugal, Antonio Gutérres, said that the new motorway “will drive the area´s social and economic development and will enhance communications with Spain, Lisbon and the other regions of Portugal“. He also said that the motorway constitutes a major step in the modernization of road infrastructure in the south of Portugal and mentioned that it has been projected to be environment-friendly.
In service in the year 2002
The motorway, located in the south of Portugal, is 143 km in length and will link Villa Real de San Antonio with Lagos. Of the total, 42 km will be newly built and there will be a further 17 km in link roads with other highways. The motorway will foreseeably come into service at the end of the year 2002 and Euroscut, the concessionaire company, will maintain and exploit it until the year 2030.
The Scut del Algarve motorway runs along the East-West axis, linking up the south of Portugal, goes parallel to the coast, at some 15-20 km distance and serves all the coastal towns, which will benefit from an improvement in communications, apart from the reorganization of long-distance traffic. The motorway will have five service areas, located in Guadiana, Tavira, Boliquime, Porches and Lagos.
Ferrovial, world leader in terms of investment
Ferrovial, through its subsidiary Cintra, which channels bidding and management of transport infrastructure concessions in Spain and abroad, is the world leader in the field of private transport infrastructure development, with over 30 years experience and an investment in the capital of these concessions amounting to Ptas 200 billion (Escudos 240 billion).
Ferrovial manages 16 motorways in Spain, Portugal, Canada and Latin America. Notable amongst these is the ETR 407 in Canada because of its volume of investment, Ptas 400 billion, and its electronic toll system, unique in the world. In addition, it runs 11 airports in the US, Mexico and Chile and over 120,000 parking spaces in Spain, Portugal and Puerto Rico.