FCC launches new concessions unit

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FCC launches new concessions unit

Spain's Fomento de Construcciones y Contratas, S.A. (FCC), has launched a new concession unit which will be led by Antonio de Santiago.

The new unit, which will be named FCC Concesiones, will operate independently of the group's construction unit. The unit will be fully owned by FCC but according to sources, it could be sold partly to FCC's partner Carlos Slim.

FCC Concesiones will be focused in infrastructure concessions such as railways, ports and roads globally, but specially in the LATAM region.

According to sources, this concession unit has been launched due to the fact that FCC expects to sell Globalvía to Khazanah Nasional Berhad, a Malaysian sovereign wealth fund.

Globalvia Infraestructuras S.A. is owned by two partners, each with a 50% share, FCC and Bankia. The firm is one of the world's leading companies in the management of infrastructure assets. Globalvia's portfolio includes 32 assets in 7 countries: Spain (21), Andorra, Mexico, Costa Rica, Chile, Portugal and Ireland.

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