ACS’ subsidiary Cobra has won a contract worth 126 million euros to build various electricity transmission lines in Brazil, boosting its portfolio of these projects in that country to 3 billion euros.
It was awarded lot 32 in the macro-auction of high-tension electricity lines held by Aneel, the energy sector regulator in Brazil. The contract is to build and operate a 310 kilometre-long line over 30 years in the State of Rondonia.
This new contract ratifies ACS’ bet on Brazil, where it has established alliances with large infrastructure funds which guarantee the continuity of its construction business. It also assures asset rotation as the concessions start up operations.
For Link Securities ACS is one of their main bets in the construction and infrastructure. “The stock is also very attractive at the moment from a technical analysis viewpoint,” they add.
