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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%.
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(END) Dow Jones Newswires
February 18, 2019 03:11 ET (08:11 GMT)
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