TRANS-TEXAS CORRIDOR (TTC-35)

Transcription

1 TRANS-TEXAS CORRIDOR (TTC-35) Madrid, 16 December TTC-35 High-Priority Trans-Texas Corridor 1

2 STRATEGIC OPERATION Consolidating a presence in a market of strategic importance for the company s expansion The first time a private-sector operator defines and plans the development of an infrastructure corridor for a country Sizeable capacity to create value: -Cintra, a strategic partner of the State of Texas in designing and planning the infrastructure corridor and the financing system -Possibility (preferential right) of directly obtaining concessions worth US$6 billion in the next five years ( ) Concession period: 50 years Winning consortium: Cintra (85%) and Zachry (15%) The operation is coherent with the strategic objectives: large investments, the world s leading power, long-term contract, and controlling stake TTC-35 High-Priority Trans-Texas Corridor 2

3 TTC-35 THE High-Priority PROJECT Trans-Texas Corridor 3

4 THE PROJECT TTC-35: - total investment: between US$ 29 and US$ 36.7 billion - linking the Mexican border at Lower Rio Grande (McAllen) with the Oklahoma state line (north of Dallas) miles (1,300 km) long and 1,200 feet (360 m) wide multi-use transport corridor: - toll roads with lanes for light and heavy traffic - freight and high-speed rail - other infrastructure and utilities objectives of the project: - economic development: TTC-35 will run parallel to the oversaturated Interstate 35, the main artery of NAFTA, connecting Mexico, the US and Canada - reduce congestion: the population is set to double in the next 25 years one of four high-priority corridors identified in Texas; together the four measure 4,000 miles and will cost between US$145.2 and US$183.5 billion TTC-35 High-Priority Trans-Texas Corridor 4

5 THE PROJECT 800 miles (1,300 km) long AUTOPISTA CAMIONES AUTOPISTA LIGEROS AUTOPISTA LIGEROS AUTOPISTA CAMIONES FERROCARRIL ALTA VELOCIDAD FERROCARRIL OTRAS MERCANCIAS INFRAESTRUCTURAS 1,000-1,200 feet ( m)wide TTC-35 High-Priority Trans-Texas Corridor 5

6 THE PROJECT Utilities: water, energy (natural gas and oil pipelines), telecommunications, optical fibre and high-tension power lines Light vehicles: 3 lanes each way (3 x 2) Heavy vehicles: 2 lanes each way (2 x 2) Rail: 3 lines (high-speed, commuter and freight) TTC-35 High-Priority Trans-Texas Corridor 6

7 STRATEGIC TTC-35 High-Priority PARTNER Trans-Texas Corridor CONTRACT 7

8 THE CONTRACT 1 Strategic partner Cintra is now a strategic partner of the Texas Department of Transportation, assisting it to analyse, identify, plan, develop and finance the multi-use corridor through various infrastructure projects (road, rail and utilities) to be developed in the short, medium and long term 2 Preferential right to concessions Cintra has the preferential right to develop the projects defined for the short term ( ) directly, i.e. without the need for public tender 3 Other rights Cintra can also bid for the other projects offered by the Texas Department of Transportation in the rest of the corridor TTC-35 High-Priority Trans-Texas Corridor 8

9 PLANNED TTC-35 High-Priority INVESTMENTS Trans-Texas Corridor 9

10 PLANNED INVESTMENTS Total investment in the corridor: between US$ 29 and US$ 36.7 billion 14 projects identified SH 130, Seg 5&6 TTC-35, Dallas Southeast Connector TTC-35, Dallas Northeast Connector TTC-35, Georgetown to Temple TTC-35, San Antonio Southeast Loop TTC-35, Temple to Dallas SE Connector UP Railroad Relocation (Mopac) IH 10 Expansion, Seguin to San Antonio Southeast Loop SH 130, Seg. 1 to Dallas to Austin Freight Rail Dallas to Austin High Speed Rail Austin San Antonio High Speed Rail TTC-35, Forth Worth Southwest & Northwest Connectors TTC-35, San Antonio to Rio Grande Valley TTC-35 High-Priority Trans-Texas Corridor 10

11 PLANNED INVESTMENTS Cintra plans to directly develop (preferential right) five of the seven projects (all toll roads), with an investment value of approximately US$ 6 billion Project Length (miles) Investment (US$ Mn) Concession system Launch / Construction SH 130, Seg 5&6 (*) TTC-35, Dallas Southeast Connector (*) TTC-35, Dallas Northeast Connector (*TTC- 35, Georgetown to Temple (*) TTC-35, Temple to Dallas SE Connector (*) , ,694 DBFO DBFO DBFO DBFO DBFO 2005/ / / / /2010 TTC-35, San Antonio Southeast Loop UP Railroad Relocation (Mopac) 315,1 5, DBFO DB 2008/ /2011 (*) Projects which Cintra plans to develop directly DBFO: Design, Build, Finance and Operate; DB: Design and Build 441,7 7,299 TTC-35 High-Priority Trans-Texas Corridor 11

12 THE TTC-35 High-Priority CONSORTIUM Trans-Texas Corridor 12

13 THE CONSORTIUM 85% 15% Zachry Construction Corporation 15% of the consortium 50% of the construction work on the concession projects developed by the consortium in the corridor second-largest construction company in Texas one of the top 40 construction companies in the US TTC-35 High-Priority Trans-Texas Corridor 13

14 THE CONSORTIUM - CINTRA In addition to the Texas contract, Cintra manages 17 toll road concessions (Artxanda tunnel managed via Europistas) REGIONAL BREAK-DOWN OF INVESTMENTS TOTAL: 2 BILLION EUROS Chile 19% Spain 26% Skyway 407 ETR Radial 4 Ausol II Ausol I Madrid-Levante Autema N4-N6 Norte Litoral Algarve M-45 Collipulli-Temuco Santiago - Talca Temuco-Río Bueno Europistas Talca - Chillán US 24% Ireland 3% Canada 23% Portugal 5% (*) Based on Cintra s internal valuations TTC-35 High-Priority Trans-Texas Corridor 14

15 THE CONSORTIUM AND ITS ADVISORS Over 120 people from 19 companies participated in drafting Cintra s bid CONSORTIUM Cintra (85%) Zachry (15%) CONSTRUCTORS Ferrovial (50%) + Zachry (50%) CONSULTANTS Earth Tech JPMorgan Securities PWC Engineering design planning Finance Financial advisors LEGAL ADVISORS Bracewell & Patterson TTC-35 High-Priority Trans-Texas Corridor 15

16 BIDDING TTC-35 High-Priority Trans-Texas PROCESS Corridor 16

17 BIDDING PROCESS Milestone Gov. Perry gave go-ahead to the Trans-Texas Corridor project TxDOT completed design First contract of its type signed in Texas Necessary legislation passed RFPQ issued PQS submitted by proposers RFDP issued for industry review RFDP issued to proposers Bidding deadline Proposal evaluation process Winning consortium announced Contract signed Date January 2002 June 2002 June 2002 June July September January April August November December 2004 Jan./Feb TTC-35 High-Priority Trans-Texas Corridor 17

18 TRANS-TEXAS CORRIDOR (TTC-35) TTC-35 High-Priority Trans-Texas Corridor 18