Vinci SA Joint Venture Gets EUR2.9 Billion Virginia Road Upgrade Contract

Date : 18/02/2019 @ 09h26
Source : Dow Jones News
Valeur : Vinci (DG)
Cours : 84.84  0.0 (0.00%) @ 01h00
Vinci Cours Graphique

Vinci SA Joint Venture Gets EUR2.9 Billion Virginia Road Upgrade Contract

Vinci (EU:DG)
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   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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