OHL México to start construction of Puebla highway in Q4

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Friday, October 17, 2014

OHL México will start construction of the elevated highway between Mexico City and Puebla in Q4, said CEO Sergio Hidalgo during a Q3 results conference call.

Construction is expected to take two years and will require an investment of 8.5bn pesos (US$630mn), 5bn pesos of which will be provided by federal funds and the remainder by OHL México and its concession partner Pinfra, said Hidalgo.

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OHL México and Pinfra were awarded a 30-year concession to build and operate the 13.3km highway in August.

Pinfra will own 49% of the concession company and OHL México – a unit of Spain's OHL – the rest.

RESULTS

OHL México posted a profit of 2.0bn pesos in Q3, up 46.3% year-over-year.

Total revenue rose 38.1% to 4.41bn pesos, while Ebitda increased 26.1% to 3.50bn pesos.

OHL México has a stake in the Toluca international airport and the Supervía Poetas tollroad in Mexico City, as well as a series of tollroad concessions in the Mexico City metropolitan area and Puebla state.