Globalvia has announced it has increased its stake in Beira Interior Highway (Scutvias) acquiring 33.33% from SDC Investimentos, formerly Grupo Soares da Costa.

With this transaction, Globalvia now holds 55.55% of the Portuguese concessionaire and thus, gains control of the asset.

The deal encloses the buyout of the same stake of the two companies, MRN and Portvias, that provide operation and maintenance services to Scutvias.

The Beira Interior Highway (Scutvias) is located in the center of Portugal, between Abrantes and Guarda, has a length of 198 km and more than 22 million vehicles a year. It is a high quality asset that channels stable traffic from Beira Interior to the south of Portugal, and from northern Spain to Lisbon.

The concessionaire was tendered in October 1999 for a term of 33 years and it entered into service in 2005 after the construction works. The concession period will end in 18 years, in 2035. 

The total investment for the project was €933 million (US$985 million).

Javier Pérez Fortea, CEO of Globalvia, said:

"This is a new step in Globalvia's growth strategy, that consolidates our interest and position in Portugal."