Vinci SA Joint Venture Gets EUR2.9 Billion Virginia Road Upgrade Contract
18 Febbraio 2019 - 9:26AM
Dow Jones News
By Nathan Allen
Vinci SA (DG.FR) said Monday that a joint venture it operates
with two subsidiaries of Spain's Actividades de Construccion y
Servicios SA (ACS.MC) has signed a 2.9 billion-euro ($3.27 billion)
contract to upgrade the I-64 highway in Virginia.
The project entails the design and construction of 5.3
kilometers (3.3 miles) of viaducts and tunnels, as well as the
widening of 14.5 kilometers (9.0 miles) of road between Hampton and
Norfolk, Vinci said. It will involve 18 months of studies and 56
months of work, the company said.
Vinci owns a 33% stake in the joint venture, while ACS's
Dragados USA holds 42% and Flatiron Construction Corp--owned by
ACS's Hochtief AG (HOT.XE)--holds the remaining 25%.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 18, 2019 03:11 ET (08:11 GMT)
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