Texas compensates ACS $380 million for Harbour Bridge cost overruns

ACS Vinci

The Texas Department of Transportation (USA) and ACS have reached an amicable settlement to close years of confrontation in the courts over the construction of the Harbour Bridge over the port of Corpus Christi (Texas), the largest in the USA in terms of tons handled. According to local authorities, the consortium formed by Dragados and Flatiron will be compensated with $380 million (about €380 million) for cost overruns incurred on a project that was budgeted at $1.2 billion and which has accumulated heavy delays in its execution. Payments to the contractor will be made in instalments and milestone payments.

Last year, Texas transportation authorities ordered a halt to work on the bridge when alleged technical deficiencies in the infrastructure were detected. The state department even threatened to suspend the contract.

Texas is one of ACS’s major markets in the US. Its latest major operation in the area was the takeover of the Houston SH-288 toll road after investing more than €1,000 million. The Spanish construction company reached an agreement this summer to sell 56% of the concession to its subsidiary Abertis for around €1.45 billion.

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