Spain: €1 billion compensation claims

A number of major contractors building highways in Spain are demanding compensation to the value of €1 billion from the Ministry for Public Works for having delayed the approval of these projects for an average of 12 months.
July 9, 2012 Read time: 1 min
A number of major contractors building highways in Spain are demanding compensation to the value of €1 billion from the Ministry for Public Works for having delayed the approval of these projects for an average of 12 months.

The companies are said to include 917 ACS, 1392 Isolux, 4914 FCC, Sancyr, 2717 Ferrovial, 976 Acciona and 980 OHL who were awarded ten contracts in 2007 to modernise and repair several Spanish highways including the A-1, A-2, A-3, A-4 and A-31. The companies are requesting that compensation be paid using a 30% increase in the original budgets for these projects. Sacyr promised investments of €475 million, OHL €402 million, FCC €276 million and Acciona €263 million.

Meanwhile, the Spanish Government plans to invest €360 million into road tunnels to bring them up to scratch.

The investment is required to allow the tunnels to meet European security standards. The target date for the improvements to the country's road tunnels network is 2014. At present some 38% of Europe's tunnels do not meet the ventilation security standards in case of an emergency.

For more information on companies in this article

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