Intermoney | Acciona (Buy, Target Price 210 euros/share) continues to grow in the public works sector in Australia. It has been chosen as one of the contractors to build a 15km ring road in Queensland. The overall budget for the project is around 1 billion Australian dollars (some 700 million euros). Along with a local firm, Acciona has won, provisionally, one of the lots awarded with a investment budget of some 400 million Australian dollars (a little over 260 million euros).
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Australia is currently the biggest public works market for Acciona. It has contributed to the fact that the infrastructure division shows the greatest growth rates. In the area of construction specifically revenues rose over 20% in Q1’22, driven by Brazil and, particularly, by Australia. That country represents 33% of the workload, more than Spain, with opportunties spotted worth 170 billion Australian dollars.
