Related content
Companies / Entities
- Sociedad Concesionaria Autopista del Aconcagua S.A.
- Ministerio de Obras Públicas
- Obrascón Huarte Lain, S.A.
- Empresa Constructora Delta S.A.
Keywords
Infrastructure
Facebook
Delicious
Digg
Yahoo
MeneameMexican foreign trade bank Bancomext's two tollroads in Chile, Autopista del Aconcagua and Autopista del Itata, both posted profits for 2005, according to separate filings reported by the tollroads to Chile's securities regulator (SVS).
The Itata highway reported net profits of 11.3bn pesos (US$21.8mn), up 269% from year-before profits of 3.06bn pesos. Operating profits jumped 98.7% to 3.14bn pesos, while revenues were up 9.7% to 10.04bn pesos.
The bottom line was given a boost by other non-operating income of 10.5bn pesos. Operating costs also fell 7.3% to 6.24bn pesos. Some 2.5 million vehicles transited on the road, a 15% increase from the year before.
The 28-year Itata concession was awarded in 1995. The 75km highway connects Region VIII coastal town Tome - north of regional capital Concepción - with the city of Chillán in the interior.
Meanwhile the 23-year concession of Aconcagua was awarded in 1996. The 218km stretch is on the Panamerican highway (Ruta 5) and connects the country's capital Santiago with Region IV coastal town Los Vilos.
The highway concession turned to the black in 2005, posting net profits of 226mn pesos, compared to a loss of 13.5bn pesos in 2004. Operating profit came in at 11bn pesos, versus a 1.35bn-peso operating loss the year before.
Revenues increased 100% over the period to 54.6bn pesos, thanks in large part to the public works ministry's (MOPTT) anticipated compensation payment for the years 2006-2009, which came to some 25bn pesos, the concessionaire reported to the SVS.
Traffic on this highway came to nearly 11.2 million vehicles, up 7% from the year before.
Bancomext, which financed the construction of both highways, took over control of their concession in 2000 after then-highway operator Chilean concessionaire Tribasa declared bankruptcy. The bank has been mulling over the idea of selling its two Chilean highways because they lie outside the bank's field of interest.
Bancomext has already been in talks with a number of companies, including Spain's OHL, Chilean wood pulp group Celulosa Arauco, Chilean investment fund Southern Cross and Mexico's Carso group, which have reportedly expressed interest in the sale.
In the meantime the Nogales-Puchuncaví highway concessionaire posted a 13.2mn-peso (US$65,000) net profit in the first half, up 204% from year-before profits of 4.3mn pesos, the concessionaire reported to the SVS.
Operating profit increased 21.1% to 446mn pesos, while revenues were up 6.2% to 1.12bn pesos for 2005. Overall traffic also increased 5.3% to 717,769 vehicles.
The company expects that the expansion of local port Quintero, along with the increased real estate development in the surrounding area, will mean higher traffic flow in the future.
Local construction company Delta Edificación controls the 27km highway connecting Region V town Nogales on the Pan-American Highway with Puchuncaví near the coast.
The 22-year concession was awarded in 1995, but Delta has been looking to sell off this asset since last year. "We have some concrete offers on the table and are evaluating them," Delta official Jorge Ríos told BNamericas, without being able to provide a more specific timeline and refusing to name the interested companies.
0
Comentarios