Abertis agrees to extend the concession term of one of its roads in Brazil in exchange for new investments

• Abertis' subsidiary in Brazil, Arteris, will invest R$ 91Mn (€30Mn), in exchange for an extension of Autovias' duration by 6 months.

Abertis, through its subsidiary controlled by Arteris, Autovías, S.A., has reached a agreement with the Sao Paulo State Transportation Regulatory Agency (ARTESP) for a new capex program to increase capacity over a 14 kilometre segment of SP-318 (between km 249 and 253) for an investment of R$ 91Mn (€30Mn).

The works, which will be finished by June 2016, will improve the service levels for 1.5 million people in the Sao Carlos, Araraquara, and Ribeirao Preto.

As a consequence of this investment, the Autovias' concession term will be extended by an estimated 6 months, thus maturing in May 2019.

This agreement highlights Abertis' ability to create value for its shareholders through win-win contract renegotiations with granting authorities. Furthermore, this kind of agreement sets an example of future negotiations with administrations.

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