The Texas Transportation Commission informed ACS and Abertis yesterday that it has suspended negotiations on the review of the SH-288 highway concession. It will also continue with the “early termination process” of the contract.
According to this decision, according to ACS itself, the project will once again become public property of the state of Texas through the payment of 1.732 billion euros (1.545 billion euros).
ACS also reports that the termination of the contract, including any provisions, “will not have a significant impact on the expected consolidated net profit for 2024.”
An important asset for Abertis as well
This highway, awarded in 2015, was built and financed by ACS until last year it decided to transfer 56.8% of its capital to Abertis for around 1.4 billion euros.
This is a profitable infrastructure, with higher than expected returns, which has led local authorities to take over ownership. Unlike other cases, there is no mismanagement in this one.
The highway runs through Harris County, which includes the city of Houston, and serves to alleviate congestion problems in the metropolitan area.
