OHL expands its presence in the United States. The construction company owned by the Amodio brothers has been awarded a contract valued at 153 million dollars -126 million euros- to design and build 17 elevators in the New York subway. The project must be executed within a period of 31 months.
Specifically, OHL has obtained the contract through its subsidiary Judlau Contracting after presenting the cheapest offer of the four presented to the board of directors of MTA, the manager of public transportation in New York.
According to the institution, the following offer already had a price almost 50% higher. It was that of the New Yorker Halmar, whose price for the same contract was 187 million euros, 61 million more than that of OHL. The most expensive offer was presented by SGJV, and amounted to 200 million euros, which is 59% higher.
The contract calls for the installation of between two and five elevators in each of the eight stations included in the project, which are located in Brooklyn, the Bronx, Manhattan, Queens and Staten Island.
In addition, and as OHL explains, the company proposed by Judlau to carry out the maintenance of these elevators, Modern Elevator, was also the cheapest offer, 8 million dollars (6.5 million euros), in contrast with the next cheapest, 10 million euros.
This is not the first time that OHL has done work for MTV or New York City. He has previously participated in projects of rrehabilitation and adaptation of stations, tunnels, the southern ferry terminal or the installation of water pipes at various locations in Manhattan.
Now, and according to the terms of the offer, Judlau Contracting’s tasks include updating the communication systems of the stations where the elevators are installed, relocating existing public and transit services, replacing, relocating or adding from street stairs to platforms and the reconstruction of the edges of the platform.
The contract proposes the installation of between two and five elevators in each of the eight stations included in the project, which are located in Brooklyn, the Bronx, Manhattan, Queens, and Staten Island.
The final award of the New York subway project will take place when the financing is given a ‘green light’, still pending. Despite of Covid-19, the New York subway has managed to continue undertaking the works to make the stations more accessible at the fastest pace in their history. In 2020, nine stations added elevators.
OHL and Villar Mir
OHL and Grupo Villar Mir (GVM) have set the next February 20, 2021 as the deadline for the closing of the operation by which the second will deliver Pacadar and Alse Park to the first, in order to settle part of the debt of 129 million euros that he still maintains with the construction company.
As reported by the company owned by the Mexican brothers Amodio, the conclusion of these two transactions must also be submitted to the approval of the creditors of the company, after this Sunday they have already signed a contract to carry out the operation.
OHL and Villar Mir have given each other until February 20 to close the outstanding debt of 129 million euros
The terms of the agreement contemplate the dation in payment of 100% of the shares of Pacadar owned by GVM in favor of OHL to partially settle the debt, as well as the dation in payment of the shares of the company Alse Park, representing 32.5% of its capital owned by GVM.
Likewise, the agreement between both companies includes the recognition by GVM of a debt of 45.85 million euros with OHL after the dation in payment of the shares in these two companies.
This debt is distributed in a first tranche of 22 million euros with a maturity of five years and guaranteed by a pledge on shares of Espacio Information Technology, as well as another tranche for an amount of 11 million euros, with maturity in two years and guaranteed by a pledge on certain GVM credit rights.
The agreement contemplates the recognition by GVM of a debt of 45.85 million euros with OHL after the dation in payment of the shares in these two companies
It also includes a third tranche for an amount of 12.85 million euros with a maturity of five years, the repayment of which is contingent on the valuation of GVM’s stake in Ferroglobe on the stock market or its sale at a certain price.
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