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ferrovial texas

Spanish economy 30th December 2021

Cintra, Ferrovial’s Toll Road Subsidiary, Has Acquired 24.86% Of The Indian Company IRB Infrastructure Developers For €369 million

Cintra, Ferrovial’s toll road subsidiary, has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for €369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road. As a result, Ferrovial is now a significant minority shareholder with representation on the company’s…

SiemensGamesa

Spanish economy 29th December 2021

Siemens Gamesa receives an order for 84 wind turbines for a project in India, the third for the 3.X platform adapted for this market

Renta 4 | Siemens Gamesa has signed an order for 302MW with the promoter Ayana Renewable Power Six Private to supply 84 wind turbines of the SG 3.6-145 model for a project in India. This project is located in Gadag, in the state of Karnataka, in the south east of the country. It is the third one for the new Siemens Gamesa 3.X platform, specifically adapted for the Indian market….

spain housing construction 1

Spanish economy 29th December 2021

Spain Will Close 2021 With A Record Number Of Homes Sold: 640,000

According to the newspaper “El Español”, the Spanish real estate market could close 2021 with 640,000 home sales, of which 75,000 units would come from the new construction market, and 565,000 units from the second-hand market, according to Colliers. Over 30% more than in 2020 and 9% more than in 2019. “2021 will be the year with the most sales in the last decade,” says Ferran Font, director of research…

sanchez ursula

Spanish economy 28th December 2021

Spain Receives The First Tranche Of The EU’s 10 Billion Euro Recovery Fund

The European Union has disbursed the first tranche of the €10 billion recovery fund to Spain on Monday, European Commission President Ursula von der Leyen and Spanish Prime Minister Pedro Sánchez have confirmed.“The first Next Generation EU payment, €10 billion for Spain, is on its way! Congratulations to Spain,” the German announced on her Twitter profile. “I hope to have more good news for other EU countries very soon”, she…

IAG stil commited to accord with Globalia

Spanish economy 28th December 2021

IAG reiterates its commitment to analysing alternative options with Globalia “which could bring significant benefits”

Link Securities | The CEO of IAG, Luis Gallego, has insisted that they are looking for “alternative agreements” to be able to go ahead with the purchase of Air Europa. The operation has recently been on the back burner, according to last Thursday’s elEconomista.es. We should recall that Iberia’s parent company and Globalia, the owner of Air Europa, gave themselves to end-January as a deadline to evaluate other structures which…

Telefónica

Spanish economy 27th December 2021

Telefónica increases incentive redundancy plan to 3,000 employees

Telefónica has presented the unions with a final offer for the Incentive Dismissal Plan (PSI) that provides for a maximum of 2,982 departures from the 4,532 workers entitled to join on the basis of age and seniority. This is nearly a hundred more than the proposal put forward at the previous meeting. The income offer remains the same as for the last proposals: 68% of the regulatory salary for those…

ERTES extension

Spanish economy 27th December 2021

“Repeal” of Spanish Labor Reforms Is Limited

Nick Ottens (Atlantic Sentinel) | Spanish employers and trade unions have done a deal with Pedro Sánchez’ socialist government to overturn several labor reforms of his conservative predecessor, Mariano Rajoy. I argued against repeal. Rajoy’s liberalizations helped bring down unemployment, from a peak of 26 percent to 14 percent before the pandemic, and encouraged business growth. They allowed companies to opt out of collective bargaining agreements and expanded trial periods….

iryo

Spanish economy 27th December 2021

iryo, Spain’s New High-Speed Train

ICEX- Invest in Spain | Ilsa, a consortium managed by the Valencian firm, Air Nostrum and Italy’s Trenitalia, will be launching the train in the second half of 2022. This will be competition for Renfe and Ouigo in terms of high-speed travel, accounting for 30% of train journeys. In the medium term, it will run along the three corridors where rail liberalisation first began in Spain: Madrid-Barcelona, Madrid-Valencia and Madrid-Seville.

Acerinox

Spanish economy 25th December 2021

Sixth increase in steel prices in the US (1.800 $/mt) is proof of strong demand and benefits Acerinox

Renta 4 | NAS has announced a new price hike in the US, effective from Jan 1, 2022. The amount of the increase is equivalent to 70-80 dollars/mt for the stainless steel in the 300 series. Valuation: Very positive news for Acerinox (ACX) because it confirms the strength of the demand for stainless steel in the US. It is also very positive given that it is the first rise of…

Indra wins new Eurofighter contract

Spanish economy 24th December 2021

Indra wins €180 M contract to provide the technology for new Eurofighter planes for Spanish Airforce

Alphavalue |Indra has won an over 180 million euros contract to provide cutting edge technology for the new Eurofighter planes for the country’s airforce. It will also maintain the existing fleet, the company said on Wednesday. Specifically, the Spanish IT services and consulting company will equip the 20 new Eurofighters in the Halcón Programme with the ESCAN radar with electronic scanning and the DASS (Defensive Aids Sub-System).