Bankinter | According to press reports, the United Kingdom has announced the cancellation of the project to build a motorway near Stonehenge. We recall that the project was awarded in 2022 to a consortium formed by FCC, Webuild, and BeMo Tunnelling and had a budget of around £1.7 billion (approximately €1.95 billion). According to the same source, FCC had completed the design work but had not yet begun construction.
Assessment: Negative news with limited impact given the size of the project (we estimate around €650 million attributable to FCC, assuming a weight of approximately 33% in the consortium: 8.5% of the Construction portfolio in 1H25, a division that accounts for around 5% of EV), although in any case we understand that the consortium will be compensated for the cancellation.
