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Wed November 20 2019

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Salini and Hochtief share $705m US highway contract

31 Oct A joint venture of Salini Impregilo subsidiary Lane and Hochtief’s Flatiron West has won a US$705m (£545m) contract to widen a highway in the US state of Washington.

photo by Washington State Department of Transportation
photo by Washington State Department of Transportation

The work involves widening the I-405 highway and installing a toll system between Renton and Bellevue. Flatiron West leads the joint venture with a 60% stake.

Work is expected to start in early 2020 and be completed in 2024.

It is the second contract won recently by Lane in Washington following the signing of one for US$255m for a water storage tunnel.

“October was been a busy month for us in North America,” said Salini Impregilo chief executive Pietro Salini. “We signed two contracts – one for a highway and another for a water tunnel storage - in the state of Washington, a market where we are entering for the first time. We also marked our return to Canada after some 30 years to build a light rail transit line together with Astaldi.

“These contacts confirm our commercial strategy: to consolidate our order book in countries with low risk profiles and major infrastructure investment programmes, which prove to be a real boost to the economy. We have also made the most of our portfolio of non-strategic assets at the Salini Impregilo Group with the sale of Power & Energy Solutions (LPES), a unit of our US subsidiary Lane. This is allowing Lane to focus more on large infrastructure projects in sectors like transport, water and tunnelling.”

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