Intermoney| ACS, through Dragados, in alliance with the Ledcor group, has won the initial works to extend services on the Ontario commuter line (Go Line). The contractors will work on the nearly 20-kilometre Lakeshore East line in the town of Bowmanville. The work includes seven new bridges and grade crossing improvements. Ontario has committed C$730 (about €500 million) to this rail extension. The investment in the Go Line amounts to C$70 billion over 10 years.
Assessment: Good news for ACS, which strengthens its presence in North America, in this case not through Hochtief and its subsidiaries such as Turner, but through Dragados directly. This subsidiary also has operations in the US, with major infrastructure projects such as motorways and ports, among others. In 2022, Dragados generated revenues of €5,200m (+16%) and EBITDA of €272m (+3%), compared to just over €1,700m for the Group as a whole. ACS continues to have the US as its largest market, which, together with Canada, generates slightly more than half of its revenues.
