Two Spanish construction companies and an Irish building contractor have been named as preferred bidders for a €350 million Irish road project in Co Galway.
The so-called Icon consortium, which comprises Sacyr Vallehermoso, FCC and PJ Hegarty, is set to be awarded the contract by the National Roads Authority at the start of next year. The group beat off three other potential bidding groups, including Hibernia Roads, which came in second.
The road in question, the N6, will link Galway City and Ballinasloe - about 40 miles to the east of the city - and when complete is expected to significantly reduce journey times in the area. The development of a motorway between Galway and Dublin is one of the main targets of the Government's National Development Plan.
This particular contract includes the construction of a 56km long toll motorway of two lanes in each direction. The construction costs are estimated to be €288 million, with a total investment of €350 million over a concession period of 30-35 years. The project is forecast to be complete in August 2009.
Itinere, a subsidiary of Sacyr Vallehermoso, and FCC each have a 45 per cent stake in the consortium, while PJ Hegarty holds the remaining 10 per cent.
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