Acciona Sees €100 Bn Of Opportunities In Australia, New Zealand In Next 10 yrs

Acciona's contract in AustraliaAcciona

It’s the first project which Acciona has obtained thanks to Geotech, the company it recently acquired in Australia.

The Spanish firm said it has obtained one of the biggest rail contracts currently underway in Australia, namely the upgrade of a line to boost the service in Melbourne worth 518 million Australian dollars (around 350 million euros).

It’s the first contract that Acciona, headed up by José Manuel Entrecanales, has won thanks to its subsidiary Geotech, which has helped strengthen the important presence it has had in Australia since 2002.

The project will be carried out on the Ballarat Rail Line and envisages doubling the existing 18 kilometres of railway line, building additional platforms in some stations, modernising others and the construction of a new parking area, amongst other things. Acciona, via Acciona Geotech, in a consortium with Lendlease, was the single preferred proponent for the project.

Work will start at the beginning of 2018, with the aim of completing the project by end-2019. The Government of the State of Victoria hopes to improve the frequency of the line, in light of the growing number of people living in the west part of Melbourne.

Strategic Market

Australia is a strategic market for Acciona, where it is currently active in all areas of its business: construction, renewables and water.

That said, Australia, along with the US, is also on the radar of other big Spanish construction firms like Ferrovial, which last year acquired a services company there. And Australia is the second biggest market in terms of revenues for ACS, which has a construction subsidiary there. Acciona sees opportunities worth some 100 billion euros to develop infrastructure projects in Australia and New Zealand over the next 10 years.