ASTALDI: NEW CONSTRUCTION ORDERS FOR EUR 400 MILLION IN CHILE, HONDURAS, AND POLAND

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The Astaldi Group informs of the final award on three new construction contracts, with Astaldi’s share totalling approximately EUR 400 million, for projects in Chile, Poland, and Honduras. The Group’s de-risking strategy continues as it progressively repositions operations towards countries that present lower risk than in the past.

The new construction contracts refer to the following projects:

  • Chile, Barros Luco Trudeau Hospital in Santiago – EPC contract worth approximately EUR 270 million (CLP 200 billion – 100% Astaldi). The project calls for designing and building a new healthcare facility in the city centre, near the existing Barros Luco Hospital. The new facility will provide 967 beds and 28 operating rooms covering a total area of approximately 200,000 square metres, with two buildings each 10 storeys tall (one of which underground to house, among other things, the department of nuclear medicine). The works will have a duration of 7 years, with start-up of site activities during the second half 2018, after the design phase. The Customer is Chile’s Ministry of Health, and the works will be financed out of the State funds.
  • Honduras, Arenal Hydroelectric Project (Phase I-II) – EUR 101 million (USD 113 million) construction contract (Astaldi share: 49%), for the construction of the largest private hydroelectric project underway in the country. The project calls for carrying out the civil works needed to build an RCC dam (maximum height: 93.5 metres), in addition to approximately 6 kilometres of hydraulic tunnels and related works. The works will have a duration of 33 months, planed to start before the end of 2017. The works will be performed by Astaldi (49% share), in a joint venture with the Italian company Ghella (51%). The Customer is Energias Limpias del Yaguala S.A. de C.V., a company belonging to one of the Honduras’ leading groups producer of electrical energy.
  • Poland, Waste-to-Energy Plant for treating urban waste of the Gdańsk-Gdynia-Sopot metropolitan area – contract for construction and O&M activities for 25 years. The total contract is worth approximately EUR 280 million (PLN 1.2 billion), of which approximately EUR 110 million for design and construction (Astaldi share: 51%), and the remaining EUR 170 million for O&M activities (Astaldi share: 10%). The planned duration of construction activities is 48 months, 12 months of which for design, and 36 months for the construction work. The construction activities will be carried out in a joint venture by Astaldi (leader, with a 51% share), with the Italian company Termomeccanica Ecologia S.p.A. (49%). For O&M activities, a SPV will be set up, held by Astaldi (with a 10% stake), Termomeccanica Ecologia S.p.A. (10%), and the French company Tirù S.A. (80%). The Customer is Zakład Utylizacyjny Sp. z o.o. (municipalised company for waste management) in Gdańsk. The contract is totally financed with EU funds and out of the State budget.

With these acquisitions, the new orders for the period total EUR 2.6 billion, mainly referring to core business activities (construction and O&M) to be carried out in geographical segments with a lower risk profile than in the past (Chile, North America, Northern and Central-Eastern Europe).

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Last updated: Nov 23 2017