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Australia welcomes the women’s team… and the big infrastructure firms

Date: October 1, 2023 Time: 02:22:14

This Sunday the Spanish women’s soccer team can win the first World Cup in its history. As with many infrastructure companies, Australia can reach the national team at the very top. The insular country has become a true investment claim for large Spanish firms. In recent years, many companies have forged solid and lasting relationships with the Big Island, discovering in it an ideal environment to carry out the internationalization process by contributing their financial resources. Gamesa, Grupo Isolux Corsán, Ayesa, Elecnor, Banco Santander… There are many companies that already operate and collaborate in the Australian economy, although the ones with the highest turnover are ACS, with its Australian subsidiary CIMIC, Ferrovial and Acciona.

Australia is the world economy number 12 by volume of GDP and, furthermore, one of the countries with the least debt in the world. The International Monetary Fund estimates that its economy will grow by 1.6% this year. The investment of Spanish companies in the Australian economy exceeded 3,000 million euros in 2022.

According to the Spain-Australia Economic Relations Barometer 2022 held by the Spain-Australia Council Foundation, 69% of companies with export or affiliate activity in Australia indicated that they aim to increase their activity there. In addition, 63% of companies indicated that their presence in Australia is a form of diversification in the face of unexpected risks that have taken place recently, and that is why they are interested in increasing their presence.

Despite the difficulties due to the great distance that separates both countries and the time and language differences, large companies highlight factors in Australia that guarantee them safety and profitability. One of the keys is its geographical location, since it is close to the growing Asian markets. Also its predictable political position and its stable economy. But without a doubt, the reason for choosing Australia lies in the investment that the country is making in infrastructure and construction projects, such as roads, railways, airports and renewable energy.

ACS’s expansion in Australia is at a high point. At the beginning of the year, a €1.6 billion contract was awarded for the creation of a project for a new underground rail connection between Parramatta and Sydney. One of the most recent projects, signed on August 15, is the closing of operations with the Australian Ministry of Defense for 297 million euros to provide advisory, planning, supply management, strategy and maintenance services for the Fuel network. of the Forces. In addition, one of its most important operations in the country has been the renovation of part of the Sydney metro.

In the case of Ferrovial, the company chaired by Rafael del Pino, its largest project in New South Wales (Australia) has been the Coffs Harbor Bypass. Through its construction subsidiary and in consortium with Gamuda Australia, it created a 14 kilometer stretch of motorway, three tunnels and a service road. This contract obtained the multinational around 1,400 million euros.

The EC endorsed the Acciona, Cobra and Endeavor company

Acciona, together with the companies Cobra and Endeavor Energy, was awarded in April a project to create and maintain new renewable energy networks in the southeast of Australia for around 3,000 million euros. Although the officialization of the award will not take place until after the summer.

Last Thursday, August 17, the European Commission endorsed the Acciona, Cobra and Endeavor energy infrastructure company. The joint venture will build, finance and operate electricity transmission grid infrastructure for the Orana Central-West Renewable Energy Zone in New South Wales. The Commission concluded that the agreement would not raise competition concerns as the joint venture has no activities within Europe. The operation was reviewed following a simpler method to analyze mergers between companies.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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