July 29, 2021

Abertis confirms its entry into the United States with the closing of the purchase of Elizabeth River Crossing



The consortium they form Abertis and Manulife It has acquired a 100% stake in the Elizabeth River Crossings tunnels for € 1 billion. This infrastructure is located in the region of Hampton roads (Virginia, United States).

In this way he buys it from Macquarie Infrastructure Partners II and Skanska, companies that controlled all the holdings, has been carried out through a consortium, in which Abertis has 55.2%.

This is the second major acquisition by Abertis in less than a year, after the purchase, in June, of the Mexican Red de Carreteras de Occidente (RCO) for about 5,000 million euros.

The integration of this asset “will strengthen Abertis’ growth platform in the United States, and will facilitate the analysis of future opportunities,” the company assures. In this sense, Abertis hopes to “work for the benefit of local communities, and cement a constructive and mutually beneficial relationship with the governments and Transport authorities of the State of Virginia and the set of USA».

The Elizabeth River Tunnels are located in the Hampton Roads region and are one of the busiest thoroughfares in the greater Greater California area. Virginia Beach-Norfolk-Newport News. The concession has a remaining duration of 50 years, until April 2070. The tunnels connect important employment, commercial and military areas of the banks of the Elizabeth River in Norfolk with the rest of the Hampton Roads area, which is home to the most important commercial port of the East Coast, and have shown strong resilience in 2020 during the coronavirus pandemic.

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