Carlos Bastarreche,
Spanish ambassador
to France
p. 24
United States
and M...
Ginés de Rus
Infrastructures and
Harberger’s triangle
Luis Miguel de Pablo
“abertis hasexperiencein
January-March 2013
Rise in net profit
abertis quadruples
its main figures
6 LINK abertis JULY 2013
Good network planning, competent regulators and
agencies dedicated to evaluating and channelling
JULY 2013 LINK abertis 7
able for the government for projects to be
abertis’s growth and internation-
will go out and seek markets that are grow-
ing.We hav...
Since 2009, the
company has doubled
the number of
subsidiaries, 32 in 2013,
and kilometres that
it manages: 7,300.
Tollroads Telecommunicationsinfrastructures Airports
10 LINK abertis JULY 2013
abertis in the world
United States
JULY 2013 LINK abertis 11
roadmap thus:“We are prioritising interna-
tionalisation above the diversification of
12 LINK abertis JULY 2013
JULY 2013 LINK abertis 13
sanef its technology, which has become
the leader in toll technologies, on its toll-
road networ...
Luis Miguel de Pablo has taken over
as managing director of abertis
about the cha...
JULY 2013 LINK abertis 17
projects, with no construction risks beyo...
The organisation chart of the Corpo-
has undergone in...
— 1 —
Marta Casas, general counsel
of the abertis Corporate Legal
— 2 —
The full Legal Department
team Back ro...
code of ethics.That’s why a code of ethics
is increasingly important for every socially
JULY 2013 LINK abertis 21
22 LINK abertis JULY 2013
abertis CEO Francisco Reynés focused the company’s growth on the
American continent, at a...
JULY 2013 LINK abertis 23
on growing in...
Carlos Bastarreche defines the role
of the embassies as a factor that var-
ies in line with the characteristics of each
Since we joined the then European
Economic Community in 1986, and after
some tough negotiations, among other
reasons due t...
JULY 2013 LINK abertis 27
ingredient for delivering on this goal, finds
the formulae to suitably combine the rees-
where t...
JULY 2013 LINK abertis 29 35
— 1 — Financial centre.
— 2 — Paulista Avenue.
— 3 — Ibirapuera Park.
— 4 — Latin American
years the tallest building in LatinAmerica –
and the Edifício Copan,a masterwork of the
architect Oscar Niemeyer, built in...
— 1 — Obelisk in Ibirapuera Park.
— 2 — Museum of Art of Sao Paulo.
— 3 — Edifício Copan, by Oscar Niemeyer.
— 4 — Fruit a...
Port Mann
Bridge Port Mann
The location: Port...
How does the ’free-flow’ toll electronic payment work
A laser device detects
the vehicle, now within range
of the front cam...
34 LINK abertis JULY 2013
The widening of three lanes with the new inter-...
JULY 2013 LINK abertis 35
Following a year of works, the expansion to three lanes of the
southern section of Chile’s large...
36 LINK abertis JULY 2013
The final phase of the overall improvement and expansion project of the AP-6,
which has en...
JULY 2013 LINK abertis 37
open to traffic at all times.This entailed a
significant technical challenge and required
perfect ...
38 LINK abertis JULY 2013
The Girona Oest direct access from the toll road to the centre of the city,
starting near...
JULY 2013 LINK abertis 39
completed with the construction a further
two new juncti...
40 LINK abertis JULY 2013
Heavy vehicle customers who join the Truck Plan programme will
benefit from discounts from...
JULY 2013 LINK abertis 41
42 LINK abertis JULY 2013
The international convention of corporate
leaders is a reflection of the company’s
JULY 2013 LINK abertis 43
munications sector, always marked by the
updates; and the r...
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
Abertis Link magazine no. 8 July 2013
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Abertis Link magazine no. 8 July 2013

  1. 1. JULY 2013 Nº08 – SECOND PERIOD INTERVIEW Carlos Bastarreche, Spanish ambassador to France p. 24 REPORT United States and Mexico: priority markets p. 22 Settinga course to newmarkets
  2. 2. WE HAVE REDOUBLED OUR EFFORTS TO ACHIEVE MORE STREAMLINED MANAGEMENT ADAPTED TO THE CIRCUMSTANCES; WE HAVE SIZE ON OUR SIDE AND, WITH SIZE, MORE STRENGTH AND SPACE TO CONTINUE TO GROW” SALVADOR ALEMANY PRESIDENT OFABERTIS EDITORIAL We live in a global world where eco- nomicuncertainty–withthedisparities of the economic cycle in different regions – uncertainty and also to some extent geopo- litical insecurity,including also the impacts of naturaldisastersandtheaccelerationofchanges inthewayoffocusingbusinesses–forexample, due to the effect of information technologies –paintwhatsomepeoplehavecalleda“VUCA” (Volatility,Uncertainty,Complexity and Ambiguity)world. These are therefore uncertain times, at leastintheWesterncountriesoftheNorthern hemisphere.Rather,they are times when we might have – and this is perhaps especially perceptibleinEurope–afeelingofalackofsure referencesthatdelimitthesidesoftheroad. In this context,each of us,as executives, shouldadoptanattitudewhichalsospeaksto cultureandvalues.Attitudessuchas: Resilience,withregardtopositiveresist- ance.Withoutthispositiveresistanceandstrong senseofcommitment,withvisionandalong- termstory,thereisnoplanandnofuture. Adaptation,whichisbasicallyrelatedto actingafterhavingmadeasuitableinterpreta- tionofthecontext. Anticipation,whichinvitesusnottowait passivelyforthefuture,buttogooutandseek it.An enterprising attitude that prepares us to make the most of opportunities,and there is nodoubtthatabertishasdevelopedthisabil- ityforanticipation. Andfinally,Transformation.Likeanticipa- tion, a positive attitude towards the future. Directedatourtakingresponsibilityforwhatis happeningtousbecauseweourselvespropose ourownprocessoftransformation. Inshort,theyareresponsesthatimprove our ability to govern and lead our own future. Toknowhowtoreadandinterpretthecontext and anticipate it.I believe that abertis,both for its past and present,is a good example of how these responses can be integrated and combined. Inthesamewaythatinthelate1990sand startofthe21stcenturywecommittedtobuild- ingagroupofglobalinfrastructuresintheinter- nationalsense,anddiversifiedintofiveactivity sectors,theintensificationoftheeconomicand financialcrisissince2008/2009,veryparticularly inEuropeandSpain,hasledustoredefineour sectorial strategy in order to concentrate our resourcesandcapacitiesongrowingandgetting stronger in the sectors where we are best pre- paredtoexerciseclearleadershipandaroleofa worldwidereferencepoint. Theroadtravelledandthethingswehave achieved suggest that we don’t need to be smaller in Spain,but that fundamentally we will have to be – as we already are becoming –biggerinothercountries.Wearethetoll-road leadersinBrazil,ChileandSpain,andinFrance toowearemaintainingasolidpositionamong leadingtoll-roadoperators,placingusinthebig leagueofinternationaltoll-roadmanagers. Thedecisionswehavetakensincethisfirst major crisis of the 21st century kicked off has provideduswithfocus:wehaveredoubledour effortstoachievemorestreamlinedmanage- ment adapted to the circumstances;we have size on our side and,with size,more strength and space to continue to grow.We were pre- pared and we reacted in time,by anticipating whatwastocome. Todayabertisisamorecompetitivegroup foroperatinginaglobalenvironment,whilewe havealsoreducedourexposuretoriskycountries. Inotherwords,astheeconomiccycleisasym- metrical–theoverallworldeconomyisgrowing yet there is still a recession in Europe,where it even appears to be taking a deeper hold – our geographicpresenceshouldalsorespondtothe asymmetricalrealitythathasusinitsgripand wemustknowhowtoseeitasanopportunity andmakethemostofit. Thisis,inshort,oneofourgoalsasaglobal company:thattheoutcomeofthegeographic mixwithinthegroupasawholemayaffordus thepossibilityofsustainedgrowth,regardless of the particular phase of the economic cycle inanyonepartoftheplanet. Thiswillallowustocapitaliseinaclearly positive sense on the uncertainties arising from this“VUCA”world,as well as its oppor- tunities. Prepared for a “VUCA” world JULY 2013 LINK abertis 3
  3. 3. 06OPINION Ginés de Rus Infrastructures and Harberger’s triangle 14INTERVIEW Luis Miguel de Pablo “abertis hasexperiencein integrationandvaluecreation” 18TEAM CorporateLegalDepartment Code of ethics consultant 22REPORT Internationalisation United States and Mexico: priority markets 24INTERVIEW Carlos Bastarreche “Internationalisation involves adapting better to demand” 28TRAVEL Sao Paulo The great Brazilian megalopolis 26REPORT LatinAmerica abertis, biggest toll road operator in Chile 32REPORT Port Mann Bridge abertis manages the toll on the widest bridge in the world 34REPORT abertis autopistas Chile Route 68 gets an e-toll 35REPORT Central toll road Opening of the third lane of the Chilean toll road 36REPORT abertis autopistas San Rafael andVillacastín open third lane 38REPORT New junctions on theAP-7 Works coming along well in Girona 40REPORT Truck Plan programme New discounts for truck drivers 42REPORT Global Gathering Fourth convention of corporate managers 44REPORT Public-private cooperation Meeting on the viability of these types of initiatives 45REPORT abertis telecom Contract with Terrassa Municipal Police 46REPORT MobileWorld Congress Ultra High Definition television arrives 48NEWS Amazonas 3 48 Successful launch of the new Hispasat satellite abertis award 50 10th abertis chair-UPC awards link abertis SUMMARY Nº08 4 LINK abertis JULY 2013 Setting a course to new markets 08REPORT
  4. 4. 66RESULTS January-March 2013 Rise in net profit 72SHAREHOLDERS’ MEETING abertis quadruples its main figures 73BOARD OF DIRECTORS Reductioninthemaximum numberofboardmembers Investor’s link link abertisis a publication of Abertis Infrastructuras,SA Av.del Parc Logístic,12-20. 08040 Barcelona. Tel.:93 230 50 00.Fax:93 230 50 02. EDITED AND COORDINATED BY: abertis Corporate Communication Department. EDITORIAL BOARD: SalvadorAlemany, Francisco Reynés,JoséAljaro,Josep Maria Coronas,Toni Brunet,Juan María Hernández Puértolas,Sergi Loughney and Joan Rafel. CORPORATE IMAGE AND PRODUCTION: Erik Ribé,Bernat Ruiz and Joan Fontanals. CONTENT COORDINATION: Alícia Cobeña. EDITORIAL:Alícia Cobeña,Gemma Gazulla, Marc Gómez and Leticia Gonzálvez. CONTRIBUTORS:ChristineAllard,Bob Bullock, Sergio Castilla,Joan Fontanals,Enric Pérez, Mercedes Pérez-Cruz,Roser Prenafeta,Marc Ribó, Bernat Ruiz,abertis,abertis autopistas, abertis telecom,abertis airports and abertis foundation. PRODUCTION: Ediciones Reunidas,SA (Grupo Zeta). Revistas Corporativas Barcelona. Consell de Cent,425.08009 Barcelona. Tel.:93 265 53 53. Manager:ÒscarVoltas.Editorial coordinator: Nuria González.Chief reporter:Toni Sarrià. Editorial:Marta Carrera,Gemma Figueras, Paco Martínez andToni Capilla. Layout:CristinaVilaplana and Xavier Julià. Published by:Ares Rubio. Legal deposit:B-16432-2010. abertis shareholder service line:902 30 10 15. www.abertis.com abertis accepts no responsibility for the opinion of its contributors in the work published,nor does it necessarily identify with their opinions. JULY 2013 LINK abertis 5 14 2418 48 56 42 46 32 abertis foundation 52 Vía-T free for handicapped motorists Mèdol quarry 54 abertis presents restoration project of the archaeological site next to theAP-7 DalíRetrospective56 abertisfoundation sponsors exhibition at the Reina Sofía Responsibledriving58 New road safety campaign from the abertis foundation 60BRIEFS abertis news Other Group-related news in brief
  5. 5. 6 LINK abertis JULY 2013 Good network planning, competent regulators and agencies dedicated to evaluating and channelling private participation are what are needed to obtain positive social benefits At the first National Congress on InvestmentProjectEvaluationheldin Santiago de Chile last December to which I was honoured to be invited, social defence ministerJoaquínLavíndefendedtherelevance of analysing infrastructure investment so that“everythingdowntothelastpesospent” would deliver social gains.As an example of poor practice, the minister referred to the existence of empty airports in Spain,a situ- ationwhichinhisopinionwasduetothelack of economic evaluation of these infrastruc- tures in our country. Around 200 people attended the con- gress.The inaugural conference was led by Arnold Harberger, 89, who in the 1950s defined the famous“triangle”that bears his name and which measures the inefficiency causedbycertainpublicpolicies.Inthe1970s, asheadoftheEconomicsDepartmentatthe University of Chicago, he visited Chile together with Milton Friedman. Since then, many of the brilliant Chilean economists havestudiedatleadingNorthAmericanuni- versities.ProfessorHarbergerstilladvisesthe Chilean government today on investment evaluation methodologies. Inmyspeech,Istatedmydisagreement withtheminister.Theexcesscapacityofmany infrastructures in some countries, Spain amongthem,isnotamethodologicalproblem. It is not the lack of economic evaluation of projects that explains the construction of overambitious works. Many of the projects were built with Community funding and to access European funds it was necessary to presentacost-benefitanalysis.Theproblem is simpler to identify and harder to fix.The problem is one of institutional design and incentives,andisfoundinatleastthreelevels: regional,national and supranational. Projectevaluation On occasions, the evaluation methodology isconceivedbyeconomiststoselectprojects that boost social wellbeing but it becomes an administrative requirement, a barrier, whethertoaccesspublicbudgetsorEuropean funds. Despiteallthemethodologicaladvances and accumulated experience, I believe that whatHarbergersaidin1964stillstandstrue: “I believe we should assume that our future cost and benefit estimations (particular the latter) will inevitably be subject to a broad marginoferror,againstwhichitdoesn’tmake much sense to focus on subtleties aimed at preciselydiscriminatingbetweeninvestments thatcouldhaveanexpectedreturnof10.5% and those that would only give 10%. In the first instance we want to be capable of dis- tinguishingthe10%investmentsfromthose thatcouldyield5or15%,hopingfortheday whenthemanyproblemsofprojectevalua- tion have been satisfactorily settled so that wecanseriouslyattempttodistinguishyields of 10% with respect to those of 9 or 11%.” We have to change the institutional frameworkandincentivestoavoidtwoprob- lems: one, that of the political potential for discretionaluse,guidedbyelectoralobjectives that are more or less immediate and which can lead to specifying the execution of projectswithnegativesocialgains.Theother problemisrelatedtotheexistenceofvarious levels of government,which makes it profit- OPINION BY GINÉS DE RUS Infrastructures and Harberger’s triangleChair of Applied Economics, University of Las Palmas de Gran Canaria, he has a master’s degree in Transport Economics from the University of Leeds (UK), where he obtained a doctorate in economics in 1984 Heiscurrentlythe professorofCost- BenefitAnalysisonthe Master’scoursein IndustrialEconomicsat theCarlosIIIUniversity inMadrid,wherehe hasbeenthehead oftheMaster’s programmein TransportEconomics. Hehasandcontinues tocollaboratewith organisationsincluding theEuropean Commission,the EuropeanInvestment Bank,theWorldBank, theInter-American DevelopmentBank,the Tribunalforthe DefenceofCompetition andtheMinistryof EconomyandFinance. www.evaluacionde proyecto.es IT’S NOT A QUESTION OF INCREASING THE SIZE OF THE PUBLIC ADMINISTRATION BUT USING ITS RESOURCES IN A DIFFERENT FASHION
  6. 6. JULY 2013 LINK abertis 7 able for the government for projects to be activatedwithresourcesfromotherlevelsof theAdministration when the municipality, region or state – depending on the case – wouldneverbuildthemwiththeirownmoney. Thisisatypeof‘prisoner’sdilemma’inwhich even if everyone gets ruined in the end, the best individual strategy is to push on ahead. Independentorganisations Whatcanwedo?Allowmetomakeanumber ofproposalsforinfrastructuresandareference to the upcoming book by the Chileans Engel, FischerandGaletovicTheEconomicsofPublic- PrivatePartnerships:ABasicGuide,wherethese ideasarepresentedinamasterlyfashion. Abasicstartingconditionistoimagine the ministry responsible in each case as the party that plans the infrastructure network butneitherbuildsnoroperatesitdirectly,and doessotoprovidetheeconomywithneces- sary and possible infrastructures, avoiding levelsofsub-optimalcapacity.Itsinstitutional design should be modified to reduce the political potential for discretional use and increase the weight of technical decisions whenitcomestosolvingtechnicalproblems. For the purposes of making decisions on investments or regulation, responsibility Ifwehavegoodnetworkplanning,com- petentregulatorsandagenciesdedicatedto evaluatingandchannellingprivateparticipa- tion, we should leave almost all transport servicesuptoprivateinitiative.Thislasttask is being rolled out slowly in Spain but the institutional change I have described is still pending and without it privatisation does notnecessarilyimprovethestartingcondition with public production. You might think that this is very costly, given the circumstances we find ourselves in,butcomparedtothecostsandinefficien- cies of the present system, the benefits of such a reform would be immense. Further- more, it’s not a question of increasing the size of the public administration but using its resources in a different fashion.* THE EXCESS CAPACITY OF MANY INFRASTRUCTURES IS NOT A METHODOLOGICAL PROBLEM, BUT ONE OF INSTITUTIONAL DESIGN AND INCENTIVES should not be functionally segregated by modes of transport but there should be an approach which assesses the transport sys- temasawholewiththesubsequentinterac- tions.The investment evaluation should be carried out by an independent and profes- sionalorganisationthatalsoevaluatesallof the investments in transport altogether. Anotherindependentorganisation,different tothepreviousone,shouldawardandman- age the concession contracts for private participationinallmodesoftransport.Finally, another organisation would be in charge of contract renegotiations. It doesn’t seem to be very logical that the same body that awards is the one that renegotiates when there is a change in conditions that could affect the balance of the concession. * Extract from the article originally published on the blog Nada es Gratis, 27 February, 2013. Reproduced with the author’s permission.
  7. 7. abertis’s growth and internation- alisationprocessisunstoppable.“We will go out and seek markets that are grow- ing.We have the talent and ability to do it,” abertis president SalvadorAlemany said in an interview last May.2013 is proving to be a year of challenges for the company: it is working on consolidating the new assets acquiredthroughout2012(ChileandBrazil), to be able to apply the good practices and efficiency criteria that are already reaping rewardsfortherestoftheGroup'stollroads. Furthermore, the company continues to boost its geographic diversification,analys- ing different opportunities that could come upinthecountrieswhereithassetitssights: the US, Mexico, Brazil and Colombia. But what has led abertis to focus on some countriesinLatinAmericainsteadofothers? The nature of abertis’s business, as a concessionaire company, requires a long- term relationship with the administrations and society where it operates.That is why itprioritisescountrieswherethereisgreater legal safety and a clear regulatory frame- work.ManycountriesontheAmericancon- tinent such as the ones already mentioned presentthesecharacteristics,whiletheyare also countries with important economic growth and significant needs to modernise their infrastructures.That is where abertis has focused its attention for its growth REPORT strategy. The company’s CEO, Francisco Reynés, acknowledges that abertis has reduced its “overexpansion” to European markets,whicharenothavingthebesttime at the moment.“We have to make a strong commitment to growing right across the American continent. We are looking at opportunities to shore up our presence in Brazil, Chile and Mexico,”the CEO said. Selectivegrowth The Group’s internationalisation process began in 2006 with the acquisition of the Frenchconcessionairesanef andhasinten- sified particularly in the past three years with a strategy of selective growth and focusing on businesses where the Group can develop its business vocation and bring greater value to the shareholder. A few months ago, Francisco Reynés defined the Stable countries enjoying economic growth, with solid legal frameworks and financial capacity.These are the destinations where the company has set its sights with regard to future projects Setting a course to new markets Internationalisation TEXT AND PHOTOS abertis AT THE CLOSE OF 2012, 55% OF THE COMPANY’S REVENUE CAME FROM ABROAD. IN 2013, ABERTIS WILL GENERATE OVER 60% OF ITS EBITDA OUTSIDE OF SPAIN 8 LINK abertis JULY 2013
  8. 8. Since 2009, the company has doubled the number of subsidiaries, 32 in 2013, and kilometres that it manages: 7,300.
  9. 9. Tollroads Telecommunicationsinfrastructures Airports 10 LINK abertis JULY 2013 abertis in the world Canada United States Brazil Argentina Colombia United Kingdom Mexico Jamaica Puerto Rico Spain Ireland Chile
  10. 10. JULY 2013 LINK abertis 11 roadmap thus:“We are prioritising interna- tionalisation above the diversification of activities.We have achieved a position of world leadership in toll roads and are in the processofbecomingmoreintensiveonthat front.And we are studying opportunities in telecommunications, especially in Latin America." Translated into figures, at the close of 2012, 55% of the company’s revenue was generated abroad.According to estimates, in 2013 abertis will generate more than 60% of its EBITDA outside of Spain (com- pared to 45% in 2009),where it has already accumulated 16-billion euros worth of assets.Since2009,thecompanyhasdoubled the number of subsidiaries,32 in 2013,and kilometres that it manages, which had climbed from 3,700 to more than 7,300 by the start of the 2013 year. In this period, abertis has also increased the value of the assets it manages by around 28%,to reach over 29 billion euros.With respect to the workforce, abertis closed 2012 with an average staff size of 17,500 people (com- pared to 10,800 in 2009),of which 64% are located abroad. Sweden France Evolution (from 2009 to 2013) JANUARY 2009 KILOMETRES EMPLOYEES EBITDA (COUNTRIES) REVENUE (COUNTRIES) JANUARY 2009 JANUARY 2013 JANUARY 2013 JANUARY 2013 JANUARY 2013 46% 36% 39% 35% 24% 17% 32% 30% 11% 5% 11% 9% 8% 7%44% 37% 16% 18% 2% 18% 1% 16% 6% 9% 41% 41% 52% 52% 20% 21% 38% 36% SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE UNITED KINGDOM CHILE BRAZIL OTHERS JANUARY 2009 JANUARY 2009 6% 6% 3% 3% 4% EBITDA (millions of euros) 2,550 2,500 2,450 2,400 2,350 2,300 2010 2011 2012 2012 (comparable) 2%2%
  11. 11. 12 LINK abertis JULY 2013 ABERTIS AIMS TO USE SANEF ITS TECHNOLOGY, WHICH HAS BECOME THE LEADER IN TOLL TECHNOLOGIES, ON ITS TOLL-ROAD NETWORK Growingwithpartners The present economic situation of credit restrictions and a stagnated domestic mar- kethasboostedallianceswithdiversefinan- cial partners to bring financial strength to projectsandtobeabletogrowabroad.One of them is the Brookfield Motorways fund in the Brazil operation. However, abertis, with its expertise and know-how of the concessionbusiness,isconsolidatingaposi- tion as a leading industrial partner in all of the projects in which it operates. America,thenumber-onedestination TheAmerican continent, the Group’s prin- cipal market, will account for 23% of total EBITDAin2013.abertis’slatestmajorinter- nationalisation project inAmerica was the closureinDecember2012oftheacquisition from OHL of 60% ofarteris,Brazil’s largest toll-road company in terms of kilometres managed: nine toll-road concessions with a total of 3,227 km under operation,with a 21% share in the Brazilian toll-road conces- sion market. This is a solid toll-road portfolio which includesabalancedportfolioofconcessions andimprovestheaveragelifeofabertistoll roads.This operation, along with the pur- chase of a further three toll roads in Chile company – with a long-term vocation to remain in the Group. RestofAmerica On the American continent, abertis also operates in Puerto Rico via the Puerto Rico toll-road concessionaire (apr), which has been managing the Teodoro Moscosos Bridge for 20 years.Since 2011,abertis has beenaparticipantinthemetropistas con- sortium, which operates the concessions for the PR-22 (San Juan de Puerto Rico- Hatillo) and PR-5 (San Juan metropolitan area) toll roads. In Colombia, abertis has a stake in Coviandes, the owner of the concession contract for the 86 kilometre toll road that joins Santa Fe de Bogotá withVillavicencio. In Argentina, abertis manages two of the most important access roads into the city ofBuenosAiresthroughthewesternconces- sionaire(gco),whichhastheconcessionfor 56 kilometres of the Oeste Toll Road that joinsthecapitalregionwithLuján;andAusol, whichhastheconcessionfor119kilometres of the northern access into Buenos Aires. The three countries mentioned stand out for the positive level of traffic on their toll roads,whichgrewby4.5%.Inthe2012year, revenue from toll roads under direct man- Changes in senior management abertiscarriedoutaremodellingof themanagementstructureofits subsidiariesinLatinAmericawith thegoalofadaptingtheorganisation tothenewchallengesbrought aboutbytheGroup’sinternational growthandtoensuretheefficient integrationofthebusinesses. Tothatend,itagreedtopropose theappointmentofDavidDíaz, untilrecentlythemanagingdirector ofAutopistasAmerica,asthenew CEOofarteris,theBraziliantoll-road subsidiary.DavidDíazwillmanage thecompanyfromitsheadquarters inSãoPaulo. ThecurrentCEOofarteris,JoséCarlos F.deOliveira,willbecomethe non-executivePresidentofthe boardofthiscompany.The managementreorganisationalso entailsthecreationofatoll-road businessunitinChile,themanaging directorofwhichwillbeLuisMiguel dePablo,whowillalsoreportdirectly totheabertisCEO.Themanaging directorwillberesponsibleforallof abertis‘stoll-roadconcessionsin Chile,whichfollowingtherecent acquisitionsfromOHLnowcome tomorethan700kilometres.The newChileTollRoadsDepartment joinstheonesthatalreadyexist inSpainandFrance,headedby JosepLluísGiménezandFrançois Gauthey,respectively. Finally,abertishasalsocreatedanew RestoftheWorld(ROW)Concessions Department,whichwillbeheadedbe CarlosdelRío–currentlymanaging directorofabertisairports–and (343kilometres),hasmarkedaturningpoint forthecompany,makingittheworldleader in the toll-road sector both in terms of rev- enue and kilometres managed.The Group hasincreaseditskeyperformanceindicators by almost 25% and launched in Brazil, a growingmarketwithastableconcessionary framework,where it will be able to create a leading platform to capture future growth opportunities in the region. The transaction of OHL assets is a transformational operation that drives the Group’sgeographicaldiversification–oper- atingin14countries–andincorporatesnew partners,such as Brookfield,and entails the entrance of a new group among abertis shareholders, i.e., the OHL construction David Díaz Carlos del Río
  12. 12. JULY 2013 LINK abertis 13 sanef its technology, which has become the leader in toll technologies, on its toll- road network Outside Europe,even though it is associated to toll technologies ,of note is the concession to develop and execute the largest dynamic (free-flow) toll system on the Port Mann Bridge in Vancouver (Canada).sanefits also collaborates in the development of the Golden Ears Bridge toll system in Vancouver and the Dublin ring road (Ireland). Expansionin telecommunications In the telecommunications sector,abertis has made a clear commitment to the tow- ering business. One of the operations that marked the 2012 year forabertistelecom was the acquisition of 1,000 telephone towersfromTelefónica,whichentailedmov- ing into the mobile infrastructure manage- ment market. The second focus of attention of the abertis telecommunications division is the satellite business, which in 2012 was boosted by increasing its shareholding in Hispasat (40.6%). 2013 is also proving to beayearofintenseworkinthedevelopment of the Digital Dividend.This will involve the liberalisationofthespectrumandanorgan- ised process to maintain open television services and consolidate their audience. All of these operations shore up the company’s growth commitment and open the way to new businesses where abertis can position itself as an operator of inter- national renown,such as the case of tower- ing or the satellite transmission sector. Afuturestrategy In short and long-term projects alike, abertis will continue to strengthen inter- nationalisation to maintain its position as a reference in terms of infrastructure,using geographical expansion to propel the Group’s growth and with its view focused on countries such as the United States, Canada,Brazil and Mexico.Stable countries enjoying economic growth,with solid legal frameworks and financial capacity that also make it possible to keep the company’s credit rating stable. whichincludesallofabertis’s shareholdingsintollroadsinother countries,alongwiththecurrent airportsbusinessunit.USTollRoads, ArgentinaTollRoads,PuertoRicoToll Roadsandthecompany'sshareholdings intheCoviandes(Colombia)andRMG (UnitedKingdom)concessionairesall formpartofthenewRestoftheWorld (ROW)ConcessionsDepartment IN SHORT AND LONG-TERM PROJECTS ALIKE, ABERTIS WILL CONTINUE TO STRENGTHEN INTERNATIONALISATION TO MAINTAIN ITS POSITION AS A REFERENCE IN TERMS OF INFRASTRUCTURE agement in America came to 404 million euros, and EBITDA came in at 240 million euros.In both cases,this represents 10% of the abertis group total. WithoutlosingsightofEurope On the Old Continent,abertis is taking off inFrance,wherethecompanycontrols52% of the capital of the sanef group, which manages a total of 1,761 kilometres of the French road network and has a privileged position in the economic heart of Europe, connecting to five major European capitals (London,Brussels,Luxemburg,Frankfurtand Strasbourg).The French subsidiary’s gross operating margin represents one-third of theGroup’stotal.abertisaimstousesanef, In 2012, abertis shored up its presence in the satellite business by increasing its stake in Hispasat (40.6%). Luis Miguel de Pablo
  14. 14. Luis Miguel de Pablo has taken over as managing director of abertis autopistasChile.Inthisinterview,hespeaks about the challenges he is facing in his new position and reflects on the infrastructure model in Chile. How are things going after these first monthsatthehelmofabertisautopistas Chile? In this first stage, and following abertis’s purchaseoftheOHLassetsinChile,ourgoal wastointegratethebusinessessotheywould have a single structure.The integration had to be done maintaining the totality of the operational functions, given that that the companies had to continue to operate, and at the same time appeasing the fears of the workers who thought their jobs could be on the line.To achieve this it was necessary to get to know abertis and its culture, convey ittotheincomingstaffandreaffirmittothose who remained.The idea was to recover eve- rybody’s trust.In short,it was a process that requiredthecooperationofthewholeofthe company as one large team. Theyhavebeenmonthsofvisitsbyper- sonnel from Barcelona, who guided us and gave us the support we needed to achieve the integration and convey the company’s concern about its people. Todayweareveryadvancedintheinte- grationprocessandwe’reworkingasasingle company, which has allowed us to have a team that is better than the individual sum ofthetwocompanies.Therearestillprocesses toconclude,butinmyopinionwehavedeliv- ered on the objectives set and within the timeframes. Whatareyourobjectivesforthebusiness intheshortterm?Andwhatarethelong- termchallenges? Theinternalshort-termgoalsaretoachieve acompleteandfullintegration,implement- ing common systems and procedures that enable efficient work. We have started the analyses to imple- mentanoperationalmodelsimilartotheone appliedonSpanishtollroads,adaptedtothe particular conditions of our contracts with theMinistryofPublicWorksandthedifferent stakeholders,based on networks instead of individualconcessions,whichwillallowusto carryouttheoperationmoreefficiently.Tech- «abertis has experience in integration and value creation in the company» Managing director of abertis autopistas Chile LuisMigueldePablo TEXT abertis|PHOTOS JosepLoaso Following the acquisition of three toll roads from OHL in Chile, the recently appointed managing director of abertis autopistas Chile, Luis Miguel de Pablo, says that the integration of the assets is at a very advanced stage and the businesses are now working as a single company Profile CivilEngineerfromtheUniversityofChile; MBAandDPAinBusinessAdministration fromtheAdolfoIbáñezUniversity,he studiedAdministrationandManagement atUCLAanddidapostgraduatein GeotechnicsandFoundationsatthe PolytechnicUniversityofMadrid. Heworkedfor20yearsatENDESA,inthe WorksDepartmentandatIngendesa, takingpartinthedesign,management andcontrolofcivilworks. HehasbeenworkinginthePublicWorks Concessionsindustryforthepast15years. HewastheTechnicalDirectorfortheLos Libertadorestollroadbetween1997and 2000andprovidedconsultancyservicesto theItata,SolandRutasdelPacíficotollroads. HewasanadvisortotheInter-American DevelopmentBankfortheSandillal HydroelectricPlantinCostaRicaCAand participatedasageotechnicalspecialistinthe DonPedroHydroelectricPlantinCostaRicaCA. Between2000and2003hewasthe directoroftheAconcaguatollroadand between2004and2007wasthecontracts’ manageratConstructoraVespucioNorte. HewasthegeneraldirectorofOHLConcesiones Chileanditssubsidiariesfrom2008to2012. Hehasbeenthemanagingdirectorof abertisautopistasChileandallofits subsidiariessinceMarch2013. WE WANT TO IMPLEMENT AN OPERATIONAL MODEL SIMILAR TO THE ONE APPLIED ON TOLL ROADS IN SPAIN, ADAPTED TO OUR COUNTRY’S PARTICULAR CONDITIONS” JULY 2013 LINK abertis 15
  15. 15. nologyiskeytodeliveringonthesegoalsand sointheshorttermwemustputagreatdeal ofeffortintoendowingourconcessionswith technologicalsystemssuchastheTelevíatag toll payment, build fibre optics that let us unify control centres, variable information panels, etc. From the viewpoint of looking after the drivers who use the roads under concession, internally we must change our mentality to provide customer care rather than seeing them as users. Ourmediumandlong-termobjectiveis tocreatevalueforthecompany.Onewayof doing it is by improving the concession con- ditionswhereweoperateatpresent.Forthat it is necessary to reach an agreement with the Ministry of PublicWorks concerning the constructionofworkssuchastheexpansion ofthecurrentroadsandmotorways,thecon- structionoftunnelsandtheincorporationof worksthatincreasedriversafetyandcomfort. Thiswouldpermitustoextendtheconcession periods that are close to their end date or receivedirectpaymentsfromtheMinistryof Public Works. There are also measures or agreements with companies we can take in order to implement improvements without 16 LINK abertis JULY 2013 governmentplansthisyeartotenderprojects worth nearly USD 1.5 million,concentrated on a few but very large projects,a challenge that is difficult to achieve. Chileneedsinvestmentsininfrastructure tocontinuewithitsdevelopment.Thenumber of automobiles is rising by nearly 200,000 vehiclesperyear,whichsuggeststherecould be complete chaos in the cities in the not- too-distantfuture.StudiesbytheMinistryof Transport suggest that in Santiago alone, USD25 billion must be invested in the next 12 years,of which 36% corresponds to road projects under concession.The rest of the investment will be allocated to public trans- port,butconcessionwillhaveapredominant role,too. Do you think there is any resistance in Chile to the road concession model? The concession model is already imple- mentedinChileanditwouldbehardtoturn the clock back.The advance in public infra- structurecameabout20yearsaheadoftime and was one of the pillars of development the country has achieved.At the same time, resourceswerefreedupfromtheStatewhich has made it possible to execute works on roadsandsecondaryworks,whichotherwise wouldn’thavebeenabletobedonebecause the resources were used solely to execute and maintain the works on the main roads. TorepeatwhatIsaidbefore,inChilethere is an awareness of the value of public infra- structures,thattheyshouldbepaidforbythe people who use them and not with the resources of the Chileans as a whole,so that these resources can be allocated to other things the country needs. WhatrolecouldabertisautopistasChile playinfuturepublic-privatecollaboration projects? There is no question that abertis does play andmustcontinuetoplayaveryimportant roleinthisregard.Chileisacountrywherea large part of the concessions are for mature OUR MEDIUM AND LONG-TERM OBJECTIVE IS TO CREATE VALUE FOR THE COMPANY. ONE WAY OF DOING IT IS BY IMPROVING THE CONCESSION CONDITIONS WHERE WE OPERATE AT PRESENT” havingtoreachanagreementwiththeaward- ingauthority.Inthiscase,technologyisahuge help in delivering on this goal. Pluswehavetokeepacloseeyeonwhat is happening in the industry, as possibilities topurchasenewcompaniesthatwouldper- mitustoincreaseourconcessionsarealways comingup.abertishaslongstandingexperi- enceinintegrationprocesses,asithasshown in Chile and Brazil,and has the mechanisms to create value by improving processes. Howdoyouanalysetheconcessionsec- tor in Chile? Do you think it is a mature andconsolidatedbusiness? The concession industry in Chile is mature. The main routes in the country have been awarded under concession and the process ofawardingothertypesofpublicinfrastruc- tures, hospitals and public buildings (court- houses) has begun.The second concessions of the same routes and airports whose con- cession periods have expired are also going ahead. In Chile there is an awareness of the ideaofpay-to-useinfrastructureofanytype. Even on city toll roads with exclusive free flow use, payment avoidance falls within estimated ranges. Howdoyouanalysethefutureofconces- sionsinChile?Doyouthinkthereissig- nificantgrowthpotentialforthisbusiness overthenextfewyearsinthecountry? Although no major concessions have been awarded in the past eight years,the current THE IMPLEMENTATION OF THE E-TOLL IS A NECESSITY TO ENABLE US TO CONTINUE WITH FLOW GROWTH”
  16. 16. JULY 2013 LINK abertis 17 Links www.autopistacentral.cl/ www.rutasdelpacifico.cl/ projects, with no construction risks beyond the improvements that can and should be made in the projects,which is very much in keeping with abertis’s policy. That’swhyIthinkChileisanidealcoun- try for abertis to continue to invest in,as it alsohasstableeconomicandpoliticalcondi- tions. Whatisyourtakeontheintegrationproc- essoftheOHLassetsintheabertisgroup? The incorporation of the OHL assets has allowed abertis to be the world leader in concessionsandinChileitisthebiggestcon- cessionaire in terms of volume of traffic, giving it a hegemony and a favourable posi- tion for rolling out its management and negotiationmodelwiththedifferentaward- ing authorities. Cantheapplicationofdynamictolltech- nologies(remotetolls,GPS,etc.)contrib- utetomoreeffectivetrafficmanagement? To what point are these technologies a priorityinChile? Technology is fundamental to the model of integrated management of the different concessions.It will allow us to be more effi- cient,having,just by way of example,single control centres for various concessions or one for each network or area. Furthermore, an e-toll is no longer an option today but a need,notjusttoimprovetheservicefortoll- roadusersbutasatooltogrow.Wehavetoll boothsthatareoverstretched,whereitisn’t possible to comply with the required and reasonableminimumstandards,andwedon’t havespacetoexpandthebooths,whichleads togrowthstagnation.Inotherwords,wehave roadcapacitybutthetollsarethebottlenecks. We have implemented contactless card- payment systems, but even still we don’t haveenoughcapacitywithregardscustomer service. In these cases the implementation of thee-tollisanecessitytobeabletocontinue withflowgrowth.InChileflowsareincreas- ing at a rate of approximately 8% per year. Chileisacountrythatisstillgrowingat levelswayabovetheOECDcountryaver- age.Sowhatinyouropinionarethekey driversforeconomicsuccess?Howdoes itaffectbusinessrevenue? Chile’sabove-OECDcountryaveragegrowth isnotdowntoluck.Chilehasprovenitself to be a serious country with long- term stable economic policies, whichboostsinvestorconfi- denceinbringingcapitalto our country. But there are other aspects to consideraswellasthecountry’sconditions. Thegoodpricethatrawmateriallikecopper had for years fostered major investments in theminingarea.Chileisaheavyweightmin- ingcountry.Fordecadeswehavebeendevel- oping other economic activities such as winemakingandthesalmonandfruitindus- tries, among others, but the price of copper brought us back to earth with a bump, and evenhadadamagingknock-oneffecttoother industries due to the fall in the price of the dollarandtheriseinlabourcasts.TodayChile haspracticallyfullemploymentandthereis a large foreign workforce in the country,not just from neighbouring countries like Peru, ArgentinaandBolivia,butEuropeancountries that are suffering the crisis. ThissustainedgrowththatChilehashad is making our industry also grow in a sus- tained year-on-year fashion, at around 8% per year. PUBLIC INFRASTRUCTURES SHOULD BE PAID FOR BY THE PEOPLE WHO USE THEM AND NOT WITH THE RESOURCES OF THE CHILEANS AS A WHOLE, SO THAT THESE RESOURCES CAN BE ALLOCATED TO OTHER NEEDS IN THE COUNTRY” LuisMiguelde Pablosaysthat Chileneeds investmentsin infrastructureto continuewithits development.
  17. 17. The organisation chart of the Corpo- rateLegalDepartmenthasbeenpro- gressivelyadaptedtothechangestheGroup has undergone in recent years. One part of theteamwassplitofftoformtheAutopistas SpainLegalDepartment;anothertoaccom- panySabaonitsnewprojectsoutsideofthe abertis group,two years ago. Despite that, the Corporate Legal Department has always upheld its ability to provide advice and support to abertis in its international expansion and has done so TEAM whilstbarelyincreasingitsnumberoflawyers. GeneralCounselMartaCasassays,“TheLegal Department advises the business units and the Corporation itself on those aspects that most directly affect abertis’s value”.The workisdonefromthreeperspectives:viasup- port to business operations,collaborating in projectdesigns;thesafeguardingofcorporate social responsibility based on long-held ethicalprincipleswithinthegroupanddirect participation in the group’s growth in differ- ent jurisdictions.“There is no question that abertis ‘s Legal Department advises the Group’s business units and the Corporation itself on compliance with the code of ethics and a safe legal framework Legal territory Corporate Legal Department 1 TEXT AND PHOTOS abertis 18 LINK abertis JULY 2013 THE LEGAL DEPARTMENT ADVISES ON “THOSE ASPECTS THAT MOST DIRECTLY AFFECT ABERTIS’S VALUE,” EXPLAINS MARTA CASAS theglobalvisionprovidestheopportunityto sharetheknowledgegeneratedafteryearsof growth,assetvaluationandthesuitabletreat- mentofthenetworkofrelationswithaward- ing authorities, a fundamental part of our business dealings,”Marta Casas says. Theteam The Legal Department is headed by Marta Casas.Accompanyingherinthemanagement andorganisationofthedepartmentisproject managerDanielVentín.Thedepartmentalso has eight lawyers with longstanding experi- ence,threetechnical/adminstaffandaman- agement secretary. Each of the lawyers is a specialist in a particular area of law of interest to abertis(corporatelaw,financiallaw,invest- ment projects, commercial agreements, public law, etc.).The technical/admin staff coordinate general contract processes and theprotectionofbrands,patentsanddomain names of the abertis group. Across-the-boardaction ThemanagersoftheLegalDepartmentpro- vide advice to all abertis’s managing direc-
  18. 18. — 1 — Marta Casas, general counsel of the abertis Corporate Legal Department. — 2 — The full Legal Department team Back row: Lucía Viz, Inma Ardiaca, Bárbara Jean Mairet, Annabel Casahuga, Raquel Pelegrín, Carme Torcal, Andrés Barberis, Maya Falguera and Julián Fernández. Front row: Virginia Navarro, Marta Casas, Daniel Ventín, Beatriu Daura and Gemma Magre. 2 JULY 2013 LINK abertis 19 tors, to Corporate Development on invest- ment projects, Finance Management on financingcontractsandtheissueoffinancial instruments,to the abertisfoundation on its sponsorship programmes,and more.The interaction with them all is ongoing and is performedacrosstheboard.TheDepartment isalsoinpermanentcontactwiththebusiness units,offeringthemongoingadviceonmat- ters where it can bring its global vision to shore up advice from their respective legal advisors (e.g.,matters of importance to the abertisgroupasawhole:concessioncontract renegotiations,major lawsuits,etc.). Adaptationtojurisdiction The ongoing adaptation to the changing needsofagroupthatiscontinuouslyinvest- THE ONGOING ADAPTATION TO THE GROUP’S REQUIREMENTS RATHER THAN INVESTING IN NEW COUNTRIES IS THE MAIN CHALLENGE ing in new countries is the main challenge facing the Legal Department managers. AccordingtoprojectmanagerDanielVentín, “Each country has its own legal system and culturewhichcansometimesbeverydiffer- enttooursorotheronesweknow”.Thechal- lenge of adapting to different cultures is particularly pronounced in the case of the lawyers.KnowledgeoftheSpanishlegalsys- tem is not enough to handle giving advice outside of its borders.“Lawyers must work veryhardtodeveloptheabilitytounderstand other systems so they feel comfortable in anyjurisdiction,knowwhattheyhavetoask and always be aware of the danger of draw- ing erroneous interpretations based on an unknown legal system,” Marta Casas says, adding that“Only common sense and pru- dence and, of course, the right advice, can guaranteelegalsafetyinanyenvironment”. To this end, the Legal Department has a team which is“responsible and dynamic and are team players aware of forming part of a multidisciplinary project with a service vocation,”the managers say. Goodgovernanceand acodeofethics Theprinciplesofgoodcorporategovernance include supervising compliance with the
  19. 19. code of ethics.That’s why a code of ethics is increasingly important for every socially responsiblecompanywhichaimstocomply with a unified code of good governance. In this area, abertis, with its Legal Depart- ment at the fore, is striving to articulate a prevention and control system regarding CODES OF ETHICS ARE INCREASINGLY IMPORTANT FOR ALL SOCIALLY RESPONSIBLE BUSINESSES Daniel Ventín, Project Manager, Corporate Legal Department. 20 LINK abertis JULY 2013 any possible breach of the code of ethics and its regulations, whether by managers or employees. So as well as informing the staff and raising awareness, it has fostered a number of training actions in different countries as part of the articulation of a prevention and control system regarding breaches of its code of ethics. One of these initiatives is the design of an internal (compliance) on-line training module to make managers and employees aware of the risks that can arise from any breach of the code of ethics and its regulations.This training module will firstly be launched in Spain and later rolled out, with the necessary adaptations, in all of the countries where abertis operates. Ethicalchannel The existence of an internal ethics channel is a demonstration of abertis’s concern to prevent any act that runs counter to the code of ethics and its respective regula- tions. Any consultations, questions or denouncements made in Spain will be handledbytheabertisCodeofEthicsCom- mittee. Those from Group companies in other countries will be handled by the respective local committees.abertis is striving to opti- misethecoordinationofthelocalcommittees with the Code of Ethics Committee.
  20. 20. JULY 2013 LINK abertis 21 TheroleoftheLegalDepartmentintheacquisitionofarteris Allmergerandacquisitions operationsneedthewholeoftheteam togetbehindthemfromthestart.This wasthecaseoftherecentacquisition ofarteris(theformerOHLBrasil).It beganwithaletterofintentwithOHL andrequiredintensiveworkchecking theassetsandconcessioncontracts thatwouldbeacquired.AsProject ManagerDanielVentínexplains:“We activelycollaboratedinthecontract negotiationwithOHL,onthedesign andstructuringoftheoperation. Werecentlyalsocoordinatedthe compulsorytakeoverofarteris”, shares.Atthesametime,we negotiatedwithBrookfieldonitsstake inthearterisshareholdingstructure.
  21. 21. 22 LINK abertis JULY 2013 REPORT abertis CEO Francisco Reynés focused the company’s growth on the American continent, at an event organised by the newspaper ‘Expansión’ to celebrate its 15th anniversary in Catalonia United States and Mexico: priority markets abertis and internationalisation TEXT AND PHOTOS abertis Internationalisation as a corporate growthstrategy.Thiswastheleitmo- tivofthemessagewhichabertisCEOFran- cisco Reynés wished to convey at the event Open Door to New Opportunities, held at the Liceu theatre in Barcelona in May and organised by the newspaper Expansión to celebrate its 15th anniversary in Catalonia. The head of abertis focused on the US and “THEY ARE MORE VETERAN MARKETS” WITH POWERFUL ECONOMIES AND A LOT OF TERRAIN TO EXPLORE, FRANCISCO REYNÉS SAID Mexico as priority countries to continue to grow on the toll-road market, and also stressed the potential of the BRIC countries (Brazil,Russia,India and China).“There will be increasingly more toll roads in the BRIC countries, which is a great opportunity for usasweonlyoperatein15ofthe170coun- tries around the world”, Francisco Reynés said,adding that,“abertis is now focussing
  22. 22. JULY 2013 LINK abertis 23 abertisCEO FranciscoReynés, attheevent organisedbythe financialnewspaper Expansión. on growing in other countries with proven legal stability such as the US and Mexico. We can’t aim to be a world leader without operating in the United States”.The CEO was also keen to emphasis the company’s desire to grow in Peru and Colombia,which have vast potential.“The Group is focusing on theAtlantic,although we do not rule out investments in emerging countries”. Fran- ciscoReynésjustifiedthispreferenceforthe Americancontinentbecause“theyaremore veteran markets”with powerful economies and a lot of terrain to explore. He also stressed the importance of legal stability for the business, as “we regularly review rates and investments”. Otherexperiencesof internationalisation The abertis CEO took part in a round table discussion with the president of Gas Natu- ral Fenosa, Salvador Gabarró, who claimed that“the future lies in the BRIC countries” andthatinternationalisationisamust,even if it is not an easy process. Anotherofthecompaniesinvitedtothe event wasTelefónica Catalunya. Managing director Kim Faura said that the company madetheleapintointernationalisationinthe 1990s,enteringLatinAmericanmarketssuch asArgentina,Chile,Brasil and Peru,where he said there had been six million lines waiting to be implemented and Telefónica had installed half of them in just one year. The companies agreed that it is impor- tant to change the model as a result of the crisis.“We must accept we are in a new era, we can’t think that things will go back to how they were before,” said John Scott, presidentofKPMG,whoadvocated“looking past the current situation” when it comes to planning investments.All of the execu- tives also agreed it was a good idea to get behind the new emerging markets and“not be afraid” of expanding beyond Spanish borders,as well as the need to drive innova- tion in their products. The internationalisation message could also be heard at the summit on investment in Latin America organised by Reuters last May. The abertis CEO, who took part in the event, explained that the Group has identified various opportunities on the American continent that currently being studied. The financial and economic crisis in Europe is the reason behind abertis ’s geographical diversification into Latin America, the CEO said, where the company consolidated its presence in 2012 by buying toll road assets in Brazil and Chile from OHL. Francisco Reynés called the relationship with OHL “fantastic” and said it was “bringing stability to the shareholding structure”. The CEO said that another of the company’s priorities was to “continue to cut the cost of the debt”, which last year rose as a result of the incorporation of Brazilian firm arteris. Participation in the Latam Reuters Summit
  24. 24. Carlos Bastarreche defines the role of the embassies as a factor that var- ies in line with the characteristics of each country.WithrespecttoSpanishbusinesses, where private initiative reins, he believes that the challenge facing the Embassy is to provide Spanish businesspeople with all of the information and economic, social and cultural resources that Spain has in France. Coordinating them is, according to the ambassador,one of the principles it abides by in order to put them at the service of Spanish companies. How are relations between Spain and France today, following the latest changes at the domestic political level inFranceandexternallyinEurope? ThereisaviewsharedbySpanishandFrench leaders that relations between our two countries are definitely enjoying the best period in their long common history. «Internationalisation involves adapting better to demand» Spanish Ambassador to France CarlosBastarreche TEXT abertis|PHOTOS SpanishEmbassytoFrance The Spanish ambassador to France considers that the network of common interests between Spain and France is continuously progressing both qualitatively and quantitatively, regardless of political stripes or the electoral situation at any particular time Profile Withadegreeinlaw,hejoinedthe diplomaticservicein1976 Hewaspreviouslypartofthe ConsularandTradeRepresentationin Romania,servedassecretaryinthe MissionofSpainbeforetheEuropean Communities andwasanadvisorymemberofthe SecretariatofStateforRelationswith EuropeanCommunities. In1985hewasappointedgeneral assistantmanagerofCommunity CoordinationforInstitutional Relationsandlatermanagingdirector ofLegalandCommunityInstitutional Coordinationandapermanent assistantrepresentativeforSpain beforetheEuropeanCommunities. In1996hebecamethesecretary- generalforForeignandEuropean UnionPolicyandquicklywentonto becomethesecretary-generalfor EuropeanAffairs. Between2002and2010hewas Spain’sPermanentRepresentative beforetheEuropeanUnion. HehasbeentheSpanishambassador toFrancesinceSeptember2010. INFRASTRUCTURES ARE A FUNDAMENTAL INSTRUMENT OF ANY STATE’S ECONOMIC POLICY TO DRIVE GROWTH” JULY 2013 LINK abertis 25
  25. 25. Since we joined the then European Economic Community in 1986, and after some tough negotiations, among other reasons due to conflicts of interest with France, things have got better and better. The areas we used to call “irritants” (agriculture,fishing,terrorism,etc.)notonly have been surmounted during these years but have become exemplary areas of coop- eration for mutual benefit. For example, in French tourists visiting Spain. In 2012, the French spent 5.19 billion euros in Spain and French spending here was up by 33% in the first quarter of 2013. Finally, from the point of view of rela- tions between our societies, we are also beatingrecordsinrelationtoothercountries in fields including Spanish teachers and students, cultural and sports events, the tracking of news about Spain in the French media and so on. Thissetofindicatorsiscompletedwith the close way in which our international policies also coincide.This is both in terms of our respective positions on European integration and in specific regional spheres such as the Mediterranean, and even at a global level, for example in multilateral forums such as the UN or the G20. Thisrichnetworkofcommonpositions and shared interests can be said to now be in our respective DNAs, so it is continuing to progress qualitatively and quantitatively regardlessofpoliticalstripesortheelectoral situation or the electoral situation in Spain or France at any particular time.One figure that has a symbolic but also operational value is the resumption of annual summits that began last year. How is the Spanish economic situation seenfromFranceandhowdoyouthink it could impact internationalised com- panieslikeabertis? The economic situation in Spain is very well known in France,among other reasons because the leading French companies on the CAC40 (the equivalent of Spain’s IBEX) are installed in Spain. In this respect, one verysignificantfigureisthatamajorFrench company, Renault/Nissan, has decided to increase its investments in Spain in a sec- tor with as much medium- and long-term strategic importance as the automotive industry. So there is obviously a logical concern about the present situation,but with a con- fidence in our ability for recovery based on the different measures that are being adopted.And of course we trust that the European context, which is a fundamental FOR US, THE INTERNATIONALISATION OF SPANISH BUSINESSES ENTAILS AN INCREASINGLY GREATER REQUIREMENT TO ADAPT TO THE DEMANDS THEY MAKE OF US” the fight against organised crime,Spanish- French cooperation is possibly one of the best in the world. In the economic field, the figures also speak for themselves: exchanges have risen exponentially to reach a figure of 63 billion euros; France is our leading export market, with nearly 17% of the total. In 2012 we were the seventh-largest investor in France; some 500 Spanish groups have an accumu- lated total investment of more than 15 bil- lion euros and provide jobs to over 48,000 people;for their part,French companies are the second-largest investors in Spain, with a total investment estimated at some 67 billioneuros,andFrenchcompaniesemploy over 300,000 Spaniards.Tourism flows con- tinuetogrow,andSpainistheleadinginter- nationaldestinationfortheFrench.In2012, 8.9 million French tourists visited Spain, a growth of 7.1%, and this trend continued in the first quarter of 2013,when there was an 11% year-on-year rise in the number of RELATIONS BETWEEN SPAIN AND FRANCE ARE GETTING STRONGER, EVEN IN THESE TOUGH TIMES” TheSpanish ambassadorto Francebelievesour neighboursour “wellaware”ofthe economicsituation inSpain.
  26. 26. JULY 2013 LINK abertis 27 ingredient for delivering on this goal, finds the formulae to suitably combine the rees- tablishment of the necessary balances (budgetary, competitiveness, etc.) with an economic and monetary framework that favours growth. With the stabilisation of our risk pre- mium,thefundingproblemsourcompanies face abroad are, I believe, going to find a solution. Also, the improvements in our competitiveness indices are having a posi- tive impact for our large international com- panies, which use services in Spain. In your opinion, what could a company like abertis do to improve the image of thecompanyandofSpain?Whatisyour assessment of abertis ‘s projects (uni- versity chairs, foundation) in France? What do you think about abertis being thebiggestSpanishinvestorinFrance? abertis is the leading Spanish investor in France and that not only strikes me as good news but also something logical. Given its specialisation in infrastructures and its worldwide success,it is completely natural and positive that abertis should have becomeamajorplayerinthisfield,andthat includes in France. My opinion is possibly not objective, but I believe that abertis is doing very well in France and so it is already giving a good image of the seriousness and competitive- ness of our large companies which, in my opinion and out of mutual interest, should have a greater presence in France. The initiative of having created a foun- dation that develops different projects of social interest, such as in the field of road safety, for example, is a demonstration of anintelligentpolicy.Anothergoodinitiative was abertis becoming one of the main sponsorsoftherecentDalíexhibitionatthe Pompidou Centre, which has broken all recordsamongtheFrenchpublicandvisitors to Paris. How has the role of the embassies changed in the wake of the increasing internationalisation of Spanish busi- nesses? Our embassies are the Spanish administra- tion’s projection abroad and therefore a servicepublic,astheFrenchsay,comprising civil servants, as the English call them. In this regard,in the same way that all Spanish citizens have to know that their embassies aretheretohelpthemiftheyneedit,sotoo do all large and small enterprises have this instrument available to them. Forus,theinternationalisationofSpan- ish businesses,which has been going on for close to two decades in terms of large com- panies and growing exponentially amongst SMEs in the past two years, entails an increasingly greater requirement to adapt to the demands they make of us. Of course each country has its own characteristicsandsotheroleoftheembas- sies varies.With respect to businesses and in a large neighbouring country where pri- vate initiate reins,I think our challenge is to provide our businesspeople with all of the resources the Spanish Sate has here. Coor- dinatingalloftheseresources–information and economic,commercial,labour,tourist- related,cultural and consular resources - is oneoftheguidingprinciplesof“BrandSpain” that we are applying, to put them at the service of our companies.When necessary, contact with national and local authorities of course also forms part of our remit. SOME 500 SPANISH GROUPS HAVE A TOTAL INVESTMENT OF OVER 15 BILLION EUROS IN FRANCE AND PROVIDE JOBS TO MORE THAN 48,000 PEOPLE” How would you sum up these years as theSpanishambassadortoFrance? Even though my career, which for many years has been related to European integra- tion,has meant I have always been in close contact with French leaders, working here gives you a different point of view, often morecloselylinkedtospecificreal-lifeprob- lems. Important changes have taken place in our countries over these two years.We are both working in the context of a Euro- pean crisis that has had no precedent in recentyears.However,ourrelationsareget- ting stronger, even in these tough times. Whatroledoyouthinkinfrastructures canplayinEurope’seconomicrecovery? Infrastructures have been, and I imagine will continue to be, a fundamental instru- ment of a State’s economic policy to fos- ter growth, and right now it is clear that growth is what is needed. Obviously, cir- cumstances change (the type of infrastruc- tures,modes of funding,etc.) and govern- ment policies must adjust to the existing context. I think that abertis, because of diversification – not only internationally but in types of infrastructures and variety of management styles – is especially well placed to be able to continue to have an increasing role in projects that are going to be launched. CarlosBastarreche saidthatabertis“is especiallywell-placed tocontinuetohavean increasingrolein infrastructurematers”.
  27. 27. TRAVEL SaoPauloistheworldmadeintoacity, oneofthemostpopulatedurbanareas ontheplanet.ItisalsoBrazil’sfinancialheart, where the money that comes from the country’s industrial development, moderni- sation and technology flows. 19millionpeopleliveinthemetropolitan areaofGreaterSaoPaulo.12millionliveinthis citycrossedbytheTropicofCapricornandfoun- ded in 1554 by the Jesuit priest fromTenerife, JosédeAnchieta.Anchietasetupamissionhere and predicted that this handful of poor cabins wouldonedaygrowintoamajormetropolis. TheNewYorkofthesouth SaoPauloistheeconomicandculturalcapital ofmodern-dayBrazil,acityoffreneticactivity thatattractsthebestgastronomicoffers,inno- vative architecture and cutting-edge design. SaoPauloistheNewYorkofthesouth,acity of contrasts where in just a few minutes you can travel from areas of exclusive luxury to favela shanty towns. TheinterminablePaulistaAvenueisthe city’smainthoroughfareandhostsacatalo- gue of impressive skyscrapers, private heli- copter pads, swank apartments, cars and stores,banks,hotels,restaurantsandexclusive bars.ThislocalequivalenttoFifthAvenuealso featuresamajorculturalcentre,theMuseum The great Brazilian megalopolis Sao Paulo It is an endless cityscape, a vast megalopolis, a huge island of skyscrapers, parks, avant-garde buildings and upscale restaurants close to some of the best beaches in the world. Sao Paul is a cosmopolitan metropolis that exudes greatness and warrants a visit: the NewYork of the south TEXT ToniCapilla|PHOTOSAgency 28 LINK abertis JULY 2013 clearlyinspiredbytheRenaissancecathedral in Florence,dominates the landscape in the historic heart of the city. TherealSaoPaulo Squaresandbarsaboundhere,rubbingshoul- derswithdozensofabandonedbuildingsfrom a formerly exclusive area, graffiti works and alleyways.AstrollalongruaSaoBentoisyour chancetodiscoveradifferentsidetoSaoPaulo. One must-see in the historic heart of thecityistheMunicipalMarket,alargebuil- dingdecoratedwithstained-glasswindows. Themarketisperfectforanyonekeentomix withthelocalsandpurchasealltypesoffruit, cheese,vegetables,fishorspices,andsample the traditional mortadella sánguches ,tasty sandwichesaccompaniedbycheese,lettuce and tomato. Veryclosebyisrua25deMarço,oneof themostpopularcommercialstreets.Nearly halfamillionpeoplethrongthestreetevery day–afigurethatdoublesatChristmasand duringCarnavale- insearchofanenormous varietyofclothes,homedécoritemsorcos- tume jewellery. Financialcentre Notfarawayisthecity’soldfinancialdistrict, distinguishedbytheEdifícioItália–formany ofArt of Sao Paulo,which houses one of the most important collections of classic and contemporary art in LatinAmerica. Themuseumisalargeconcreteandglass structure surrounded by two red arches. If theoutsideisspectacular,theinsideisevery bit as good. Bosch, El Greco, Monet, Renoir, VanGogh,Dalí,Chagall…therollcallofartists with works in its rooms is enormous.The museumalsodrawsmoreavant-gardeartists, such as the numerous graffiti artists that work in its streets. Theoldhistoriccentre PaulistaAvenue–whoseoriginsdatebackto the “coffee baron” mansions, when coffee was the driving force of Brazil’s economy – divides the city in two.To the north,around rua Augustsa, is the more alternative Sao Paulo,home to residential neighbourhoods, high-end stores, bars and concert venues. Also to the north is the old historic centre, based around the Sé (cathedral). This is one of the five largest Gothic churches in the world,although it would be morecorrecttosayneo-Gothic,havingbeen built at the start of the 20th century on the remains of an old 18th-century church that was razed in 1911 to remodel Praça de la Sé square. The large dome atop the church,
  28. 28. JULY 2013 LINK abertis 29 35 — 1 — Financial centre. — 2 — Paulista Avenue. — 3 — Ibirapuera Park. — 4 — Latin American Parliament. 1 Close to Sao Paulo you can visit the marvellous Paulista coast, where you will find charming places like: Guarujá. This is the traditional summer destination for paulistas. As well as heavenly beaches including Ensenada, Pernambuco and Guaiúba, there is a large ecological reserve, Rabo do Dragão (Dragon’s Tail). A visit to Forte dos Andradas fort, which dates back to WWII, is also worth a visit. Iguape.The historical centre boasts an impressive array of churches and colonial homes from the 16thand 19thcenturies. A must-see is the Senhor Bom Jesus church and nearby park. Ilhabela.This island of unusual beauty boasts landscapes with numerous cataracts and paths through lush vegetation. Santos. As well as its beaches, it is home to the largest beachfront garden in the world. Of note are the Municipal Aquarium, the Coffee Museum and the Municipal Orchid Garden, among other points of interest. Praia Grande. One of the country’s most popular beaches. In high season it draws around 1.4 million tourists, almost five times its population. Sao Vicente. The first town the Portuguese founded in America, in 1532, today it is a residential area famous for its beach and monuments. 2 4 3 A trip along the Sao Paulo coast
  29. 29. years the tallest building in LatinAmerica – and the Edifício Copan,a masterwork of the architect Oscar Niemeyer, built in 1966 to celebrate the fourth centenary of the foun- ding of Sao Paulo. The Edifício Copan lies on the centrally locatedIpirangaAvenueandisasortofrein- forced concrete vertical city in the shape of a wavy beehive standing 140 metres high, with 37 floors and its own postcode.The building is home to an Evangelist church, a shopping mall with 72 stores, 1,160 apartments and some 5,000 inhabitants. Niemeyermadethebuildingcurvyincontrast to the straight lines of Le Corbusier and the modernist movement. Multiculturalism Sao Paulo is a multicultural city which wel- comed over a million immigrants at the turn of the 20th century.Jews settled in Hi gienópolis and Bom Retiro; Syrians and Lebanesearoundrua25deMarço;Germans moved into SantoAmaro,and Lithuanians flocked toVila Zelina.Italians made Bixiga andMoocaintooutpostsoftheirhomeland and the Japanese colonised the neighbour- hood of Liberdade. Located at one end of PaulistaAvenue, Liberdade is home to the How to arrive Sao Paulo has an international airport (Garulhos) 30 kilometres to the south of the city and which connects it with the major international hubs. Getting around the city The chaotic traffic and enormous area the city covers make it advisable to move around on the Underground or the excellent city bus network, one of the best in the world. Where to sleep Hotel Fasano (Rua Vittorio Fasano, 88 Tel. +55 113 896 40 00 www.fasono.com.br). This swish, welcoming hotel is located in the heart of the elegant neighbourhood of Jardins, very close to Paulista Avenue. You must drop into the Baretto piano bar. Jazz and outstanding cocktails. From 534 euros. Boss House Bed&Breakfast (Rua Itaquera, 01246030 Tel. +55 113 297 28 16 www.bosshousebb. com). For more modest budgets, one of the best options is this small family-style hotel. An oasis of peace in the heart of the city. From 85 euros. Where to eat FrangÓ (Largo da Matriz Nossa Senhora do Ó, 168 Tel. +55 113 932 48 18 www.rangobar.com. br). Popular restaurant with an extensive range of beers and a menu dedicated to chicken, or frango in Portuguese. The star dish is coxinhas,, a tapa with a chicken and cream cheese filling. Dom (Rua Barao de Capanema, 548 Tel. +55 113 088 07 61 www. domrestaurant.com.br). One of the best restaurants in the world, under the auspices of chef Alex Atala. Star dishes include galinhada, , chicken cooked with rice, saffron, vinaigrette and spices. To find out more www.cidadedesaopaulo.com VISITOR’S GUIDE 30 LINK abertis JULY 2013 4 1 2 3 largest community of Japanese outside of Japan,sometwomilliondescendentstoday. There are newspapers and banks signpos- ted in Japanese,market stalls with Japanese food,clothing and decoration,and restau- rants where you can enjoy tempura,sushi, yakisoba and the best ramen on the con- tinent. A colourful street market is held in LiberdadeeverySunday,whichiswellworth exploringbeforelosingyourselfinthebooks- tores, coffee shops and bars of the Vila Madalena area in search of a good feijoada. Sundays are a good time to visit the Min- hocão,or Praça por do Sol,a park where the locals gather to watch the sun go down. A 10-minutewalksouthalongPaulistaAvenue brings you to trendy rua Oscar Freire, one of the most exclusive streets in the world, which boasts every major luxury brand;and thewealthyneighbourhoodofJardims,with a profusion of stately homes,video survei- llance cameras and private security,as well as a lovely collection of bohemian coffee shops and bistros. Abusyculturaldiary In terms of the cultural offer, the city has a busy events’ diary. Leading international
  30. 30. — 1 — Obelisk in Ibirapuera Park. — 2 — Museum of Art of Sao Paulo. — 3 — Edifício Copan, by Oscar Niemeyer. — 4 — Fruit at the Municipal Market. JULY 2013 LINK abertis 31 INTERVIEW | CLAUDIO CARVALHO “It’s alwaysagood time tovisit Sao Paulo” Claudio Carvalho, arteris Communications Manager, fills us in on ways to make the most of a trip to Sao Paulo. What shouldn’t you miss if you visit Sao Paulo? Sao Paulo is a cosmopolitan city and as such boasts many attractions. In terms of culture, the Museum of Art of Sao Paulo is the most important Western art museum in the southern hemisphere. You also shouldn’t miss the art gallery and Museum of Modern Art (MAM) in Ibirapuera Park. And even if you’re not a football fan, you have to check out the Football Museum at Pacaembu Stadium. Plus there’s a wealth of live music shows. Many are local, and the cultural centres found in nearly every corner of the city in particular have constant and very interesting programming schedules. Where do the local people usually spend their leisure time? It is essential to visit the parks. Particularly Ibirapuera, the city’s largest green area, where you can practice physical activities (walking, running, cycling, physical exercise), cultural activities (Museum of Modern Art, Museum of Contemporary Art), relax in a protected area that has been lovingly conserved, flop down on the grass around the shore of the large lake and reflect on the shade cast by the trees, either with a good book or simply enjoying the peace and beauty of the place. For foodies, there are two typical snacks you should try: the mortadella sandwich and the cakes served up in any restaurant in the city’s Municipal orchestras,ballettroupes,theatreshowsand exhibitions visit Sao Paulo every year.Other famous events include: theArt Biennial, the InternationalBookBiennial,theInternational Film Festival, the International Short Film FestivalandtheInternationalFestivalofSce- nicArts, as well as music, film and theatre festivals,among many others. SaoPaulo’sCentralPark CuttingthroughtheJardimsneighbourhood you reach Ibirapuera Park, an enormous natural oasis designed by Oscar Niemeyer, where paulistas play sport and stroll bet- ween the three artificial lakes and the surroundingbuildings.Amongothersofnote are the Auditorium and the Museum of Modern Art (MAM). Other features of Ibi- rapuera Park are the characteristic obelisk ofSaoPaulo,72metreshighandmadefrom travertine marble, dedicated to the Cons- titutionalist Revolution of 1932;the Mata- razzo Pavilion,home of the Sao Paulo Bien- nial; and the Monumento às Bandeiras, in remembrance of the Portuguese colonists who populated early Brazil. Sao Paulo is a city similar to NewYork, but at the same time thoroughly Brazilian. A different Brazil. Market, known as Mercadão. And for night-time entertainment? The night life, which is culture too, can be enjoyed in the neighbourhoods of Vila Madalena, Itaim Bibi and Pinheiros, among others, where there are loads of places with a great variety of cuisines and many styles of music. Where can shopping fans go? There’s nothing better than the 50-plus malls designed for all tastes, from the most popular to the most upscale. But there are specific commercial streets, too (jeans, shoes, electronics, antiques, etc.), exclusive shopping districts and specialist boutiques (white china, Russian dolls, oil, etc.) What are the people like and what is the best time of year to visit? The inhabitants of Sao Paulo are characterised by a culture of work and modernisation. And it’s always a good time to visit Sao Paulo; it’s a receptive and hospitable place. The city doesn’t change during the year, but the climate isn’t exactly stable. Every paulistano knows the phrase: “Here you get the four seasons of the year in a day”.
  31. 31. CANADA CANADA EEUU Burnaby Surrey Coquitlam BRITISH COLUMBIA Port Mann Bridge Port Mann BridgeVancouver The location: Port Mann Bridge, the widest bridge in the world The toll gates are on the accesses to the bridge GATEWAYS 160 metres high 288 cables 65 metres wide 10 lanes 2 km long 32 detection aerials 62 cameras 32 laser devices River Fraser River Fraser Railway Railway Highway 1 Vancouver East coast and USA 32 LINK abertis JULY 2013 REPORT The free-flowe-toll system on the widestbridgeintheworld,PortMann Bridge(Vancouver,Canada),operatesthanks to abertistechnology.The sanef-egis con- sortium was last year awarded the contract toinstallandoperatetheworld’slargesttoll gantry on a bridge for a seven-year period, with a possible extension of a further three years. Port Mann Bridge forms part of the renovation project of Highway 1, which passes through the US and Canada, aimed at improving traffic on the outskirts of the cityofVancouver.Tothatend,itwasdecided to build a bridge more than 2 kilometres longand65metreswidewithupto10lanes enjoyed three areas of skill in toll infra- structures: concession, operation and col- lection systems. A solution was designed that involved the use of Radio Frequency ID technology. This wireless, contact-free technology installed on the bridge makes it possible to register and identify all of the vehicles that pass through the gantry without having to stop,thanks to a radiofrequency detection system.It is an advanced integrated system entailing 64 cameras, 32 laser devices and 32 detection antennae. When a vehicle approaches the first section of the gantry, a preliminary sensor (loop detector) installed in the ground (5 in each traffic direction). It is the widest intheworld,accordingtothe GuinnessBook ofRecords,,wider than the famous Sydney Harbour Bridge which, at 49 metres, had held the record since 1932. Withoutstops,agileanddynamic It is estimated that over 130,000 vehicles cross the Port Mann Bridge every day.The bridge’s characteristics made it necessary to employ a toll system where vehicles wouldn’t have to stop and slow down the traffic, and which had a flexible, dynamic collection system.The consortium in which sanef its technologies participated saw off the other 13 competitors because it Port Mann Bridge, 65 metres wide, is part of the renovation project of Highway 1, which crosses the US and Canada abertismanagesthetollon thewidestbridgeintheworld International expansion TEXT AND PHOTOS abertis
  32. 32. How does the ’free-flow’ toll electronic payment work A laser device detects the vehicle, now within range of the front camera The front camera shoots the vehicle and its registration The recorded information is sent telematically to the back office, where it is processed The rear camera starts to follow from behind A loop detector (mass detector) detects the vehicle A second detector calculates the number of axles The aerial receives the signal from the chip installed in the vehicle A last detector and a second laser close the following on exit The user places a a sticker with a chip and RFID technology in the vehicle Average speed when passing 100km/h A third detector confirms the number of axles FIRST SECTION OF THE GATEWAY SECOND SECTION OF THE GATEWAY 2 24 1 2 4 53 Infography: NOAH GRAÑÓ JULY 2013 LINK abertis 33 detects its presence by its mass.A second loop detector then calculates the number of axles on the vehicle. This is when an antenna first captures the chip the vehicle must have. Thechipsarestickersthatthecustomer positions in a visible place on the vehicle’s front windscreen for problem-free reading. Meanwhile a camera photographs the vehicle to read the registration plate and the detection antennae installed on the gantry structure receive the chip signal. Culturaldiversity All of the information is sent to the group’s back-office to process the toll payment. The system requires the user’s registration either over the Internet, by phone or in person.The cultural diversity of the British Columbia region,whereVancouver is found, means that the customer service centre cananswerquestionsinuptosixlanguages: English,French,Mandarin,Punjabi,Korean and Persian. Asystemwithmultipleadvantages One of the main challenges was getting the drivers and companies that use the bridge on board with the project.A campaign to register with the payment system was subsidiary manages the Golden Ears Bridge, also in the city ofVancouver.The new tech- nology has enabled total inter-operating capacity between the toll systems of the two bridges. ThePortMannBridgeprojectisanother boosttoabertis’leadershipinthetolltech- nology sector. It joins other emblematic projects, such as the free-flow toll on the Dublin ring road,which records the passage of an average of 20,000 vehicles per day, and the Eurovignette system in Slovakia, which makes it possible to charge a rate for trucksofmorethan3.5tonnesonthecoun- try’s 2,000 kilometre network of toll roads, nationalhighwaysandsecondaryroutesvia a satellite identification system. Link www.treo.ca/the-bridge/ implemented,under the commercial name TReO.The campaign was a hit, and almost 550,000 vehicles had registered before the bridge had even opened. Customer payment is also ensured by a centralised automobile insurance system in Canada. Therearemanyadvantagesofthisfree- flow system.Firstly,it is more efficient.The lack of barriers increases capacity and cuts delays. Secondly, from the user’s point of view, the time it takes waiting to cross the bridge has been cut by up to 45 minutes, improving quality of life and enabling a sig- nificant fuel saving. Finally, it has been an environmental success as it reduces pollu- tionanddeliversenhancedairquality.Bring- ingtheaveragespeedatwhichvehiclespass to 100 km/hour cuts CO2 emissions. sanefmanagingdirectorFrançoisGau- thesays,“thesanefgrouphasalwaysknown how to demonstrate its leadership in new technologies. This is the first time that a radiofrequencye-tollsystemofthissizehas been installed. It will become a reference point right across North America.We are very proud of this major groundbreaking project”. With this contract, abertis shores up its presence in Canada,where the sanef its
  33. 33. 34 LINK abertis JULY 2013 Link www.rutasdelpacifico.cl www.ruta68.cl REPORT The widening of three lanes with the new inter-city toll system will make it possible to treble the number of vehicles that travel in direction Valparaíso Route 68 gets an e-toll abertis autopistas Chile TEXT AND PHOTOS abertis Since 15 April, customers of Route 68,managed by abertisautopistas Chile, have been able to benefit from the inter-cityTAGtollsystemthatjoinsSantiago deChilewithValparaíso.Theroadwillfeature three dedicated e-toll lanes (two for light vehiclesandoneforfreight),whichwillmake it possible to treble the hourly number of vehiclesthattraveltowardsthecoast.Chile’s PublicWorks Minister, Loreto Silva, visited the Lo Prado toll to supervise the first tests abertis ran to implement the new system, known as Non Stop Go,on a route used by 1.5 million vehicles per month. The e-toll operates with antennae that detect the TAG device 150 metres before the toll booth, automatically raising the barriers and enabling the vehicle to pass without having to stop.Over 2,000 drivers per day have been able to use the three e-tolllanessinceMarch,whichworkinboth directions at the tolls at Lo Prado and the toll in Zapata, where six new toll lanes are due to be implemented shortly.A regular tollboothcanprocess250vehiclesperhour and with this system the number rises to up to 800 in the same period of time. Betterserviceforthepublic abertis autopistas Chile began a public relations campaign to promote the use of theTAG,which today has over 8,000 vehi- cles registered,a figure which has exceeded the forecast for the end of year.The Pub- lic Works Minister, Loreto Silva, also stressed the importance of this new type of toll to cut the traffic jams produced mainly in summer and over long weekends. She added that the Non Stop Go system would enable better service provision for the public. MORE THAN 2,000 DRIVERS CAN USE THE THREE E-TOLL ROADS, WHICH OPERATE IN BOTH DIRECTIONS New Route 68 portal abertis autopistas Chile has developed a new abertis routes website, which integrates the tools that make it the most functional of all of the concessionaires’ toll road site in Chile and Latin America. The new site will offer users all relevant information for planning a trip, checking the tourist sites Route 68 connects to and how to reach them; checking traffic status; and receiving on-line news regarding works, accidents and traffic, among other features. Another important feature is the integration of Google Maps, making the map much more user-friendly. The website is available in a regular and mobile version.
  34. 34. JULY 2013 LINK abertis 35 Following a year of works, the expansion to three lanes of the southern section of Chile’s largest toll road is now a reality Opening of the third land of the Central toll road in Chile abertis autopistas Chile TEXT AND PHOTOS abertisChile Thethirdlaneofthesouthernstretch of the Central toll road in Chile was openedinMarch,ataneventwhichfeatured the presence of Chile’s PublicWorks Minis- ter, Loreto Silva.This is a complex project that will improve the service for the people who travel along this important part of the Central toll road on a daily basis.The result is an almost 50% rise in the road’s capacity on a stretch that runs for some eight kilo- metres on the southern section of the road, between Avenida Carlos Valdovinos and Route 5 South. The minister said that the work,“sig- nificantly improvestheroadcapacityofthe Central toll road on this stretch,”adding,“it forms part of the large-scale improvement plan that president Sebastián Piñera has spearheaded and which is aimed at boost- ing the road capacity of all accesses to San- tiago, as well as roads within the city of Santiago”. WithaninvestmentofclosetoUSD15 million,theimprovementsimplementedwill raisetheroadstandardforthethousandsof driverswhotravelalongthisCentraltollroad route each day,freeing up the North-South axisbyabsorbingvehicleflow,mainlyheavy transport. Greatercapacity The extra lane,which runs in both directions, will increase the road capacity from 42,000 to80,000vehicles.TheCentraltollroadman- aging director Christian Barrientos said:“As wellastheconstructionofthethirdlanes,the worksentailedtheresurfacingofthetwoexist- ing roads, incorporating cutting-edge road- surface technology, which improves vehicle adhesiontotheground,eliminatingtheforma- tionofwater-filledpotholesonrainydaysand muffling the noise caused by tyre friction”. Additionally,theroadworksinvolvedan importantconcernforthelandscapingofthe sides of the road, where native flora was introduced to enrich the green areas the Central toll road already maintains. ChileanPublic WorksMinister, LoretoSilva, attheopening.
  35. 35. 36 LINK abertis JULY 2013 REPORT The final phase of the overall improvement and expansion project of the AP-6, which has entailed an investment of 335 million euros, has come to an end The third lane between San Rafael and Villacastín is now open abertis autopistas abertis has implemented the third lane in each direction on the San Rafael-Villacastín section of theAP-6 (20.5 kilometres between km points 60.5 and 81.0), the basic communications corridor between Madrid and northwest Spain.This brings to an end a number of works that have made it possible to adapt the road’s capacity to traffic demand and offer a mar- gin for future expansion if necessary. It is the final natural phase of a road- communications improvement project on the northwest corridor,developed over the past 12 years in the two autonomous com- munities of Madrid and Castile and Leon and over a length of more than 60 kilome- THE WORKS MAKE DRIVING EASIER, ENABLING FLUID TRAFFIC FLOWS AND IMPROVING SAFETY LEVELS ON THE ROAD tres of high-capacity roads, which has entailed an overall investment by the con- cessionaire of 335 million euros. ThirdlanebetweenSanRafael andVillacastín Thewideningtothreelanesineachdirection on the San Rafael-Villacastín section (km points 60.5 to 81.0) boosts the capacity of the AP-6 toll road. Specifically, it responds to the growing need to expand the road at km 81, where traffic divides between the AP-6 and the AP-51, with the goal of pre- venting possible congestion in the event of special traffic operations. Theworkshaveinvolvedacomprehen- sive improvement to the road, having includednewviaducts(Arenales,Sotilloand Lavadero) and route modifications needed to eliminate sections with a specific speed of under 120 km/h (Alto del Caloco). The expansion has entailed an invest- mentofaround75millioneurosonthepart of the concessionaire.The works make driv- ing easier, enabling fluid traffic flows and improving safety levels on the road.Having taken three years, the works were done on the condition that the road had to remain The project was rolled out on a 60-kilometre stretch of road.
  36. 36. JULY 2013 LINK abertis 37 open to traffic at all times.This entailed a significant technical challenge and required perfect coordination between the different actions. One example is the demolition of the existing viaducts and construction of new ones atArenales,Sotillo and Lavadero using half roads. abertis autopistas kept customers permanently up to date via different com- munication channels so they could always know the state of the works and the areas affected, using variable message panels (74 alongthelengthoftheAP-6andonitsaccess roads; 24 in the works section), a Customer Service Centre (902 200 320), the website www.autopistas.com and on Twitter @ Truck_Tweet. Another feature of the works was the effortandcareputintoenvironmentalmat- ters,notonlyintermsofbudgetbutregard- ing the environmental tracking that was carried out at all times by a company that specialises in this area, which meant the road always fulfilled its service vocation from the environmental policy viewpoint as well. AP-6improvementproject The expansion of the third lane between San Rafael andVillacastín is the last natural phaseofaprojecttoimprovetheinfrastruc- ture of theAP-6 toll road carried out in the Autonomous Communities of Madrid and Castile and Leon over the past 12 years.The THE NEW THIRD LANE ENTAILED AN INVESTMENT OF AROUND 75 MILLION EUROS ON THE PART OF THE CONCESSIONAIRE projectincludeddifferentworksonthecon- cession: Widening of a fourth lane per road between the M-50 junction (Las Rozas- Norte) and the junction with the M-601 (Villalba). Expansionfrom2to4lanesbetween Villabla and theValle de los Caídos junction. New road surface and a new tunnel beneath Guadarrama pass, between the ValledelosCaídosandSanRafaeljunctions. Improvement of the other two tunnels, adapting them to current road safety regu- lations. ExpansionoftheSanRafaelTrunkToll Station, adapting it to increasing traffic demand and equipping it with more auto- matic lanes:card andVíaT to speed up pay- ment. The two projects on both sides of the Guadarrama entailed a complete improve- ment and expansion of the AP-6 toll road. Theworksmadeitpossibletosolvemobility problems especially during special traffic operations and on weekends, which were obviouslyneededfollowingtheconstruction of the roads in the directions of Ávila and Segovia(AP-51andAP-61,respectively)and by the increase of the population in areas around Guardarrama.They have also made traffic more comfortable, contributing to fluid travel and implementing maximum safety levels in the infrastructure.All of this with the goal of keeping the toll road at its optimum service level, seeking maximum satisfactionforourcustomersatalltimes. The works were done with the condition that the toll road had to remain open to traffic at all times.
  37. 37. 38 LINK abertis JULY 2013 REPORT The Girona Oest direct access from the toll road to the centre of the city, starting near the town of Sant Gregori, opened in March.The Fornells junction will soon be implemented as well NewAP-7 junctions in Girona coming along well abertis autopistas TEXT abertisPHOTOS JosepLoaso TheworksonthenewAP-7junctions that abertis autopistas is carrying out in Girona are continuing to make good progress.TheGironaOestaccess,theclosest junction to the city out of all of the ones on theAP-7, opened last March. Located near the neighbouring town of Sant Gregori, Girona Oest is a complete interchange that allowstraffictomovebetweenthetollroad and the roundabout on the GI-531. Thenewaccess,whichhasatotalof10 toll booths and a control building, entailed the construction of an underpass beneath the toll road, the works on which involved movingnearly350,000cubicmetresofearth. To minimise the infrastructure’s envi- ronmentalimpact,thesurroundingareawas renovated, covering almost 65,000 square metres, and 17,000 trees and bushes were planted.A further goal was to cut noise pol- lution to a minimum through the use of acoustic screening and sound-reducing asphalt on the road surface. THE PROJECT HAS REPRESENTED THE CREATION OF A THIRD LANE ALONG 78 KILOMETRES OF ROADS IN GIRONA PROVINCES GironaOestisthefirstofthethreenewjunc- tions abertis autopistas is working on as part of theAP-7 expansion project to open. Theroad-wideningproject–whichisalmost finishedexceptfortheGironajunctions–has representedthecreationofathirdlanealong a total of 78 kilometres of roads in Girona provinces, and which altogether abertis autopistas has executed along a total of 125 kilometres between La Jonquera and Vilaseca-Salou (Tarragona).The purpose of these improvements it to adapt the road’s capacityandoffertoll-roadusersbetterserv- ice conditions. GironaRingRoad Together with the already opened Girona The new access has a total of 10 toll booths and a control building.
  38. 38. JULY 2013 LINK abertis 39 Oest,theexpansionprojectinGironaisbeing completed with the construction a further two new junctions:Fornells andVilademuls. The works on these two accesses are under wayandareprogressingtoschedule.Fornells, where the works are at the final stretch, is expected to be ready during summer.The Vilademuls junction is scheduled to finish during the first quarter of 2014. These new junctions (Fornells and Vilademuls),alongwiththeonesthatalready exist, Girona Sud, Girona Nord and Girona Oest, make up the Girona ring road project of the AP-7 and involve the integration of the N-II and theA-2 and the design of four lanes along a 20-kilometre route. Internal journeys between these five junctions will therefore be free. The company is investing nearly 300 million euros in theAP-7 projects in Girona provinces, on top of the 200 million-euro investment in Tarragona.The Girona Oest junction,specifically,hasentailedaninvest- ment of 11.8 million euros by the company. ApprovalfortheFigueresNord junction The Ministry of PublicWorks has also given the go-ahead to the project to convert the Figueres Nord access into a complete inter- change.This junction, located in the Llers municipal area, connects theAP-7 toll road withtheN-II.Atpresentthejunctionhastwo ramps that allow traffic to exit the toll road Link www.autopistas.com fromFranceandgetontoitinaFrance-bound direction.Tocompletethejunction,itisnec- essary to build two new on-ramps in the direction towards Barcelona and off-ramps from the city. The works have included doing up the surrounding area and planting 17,000 trees and bushes.
  39. 39. 40 LINK abertis JULY 2013 REPORT Heavy vehicle customers who join the Truck Plan programme will benefit from discounts from the first euro spent on journeys right along the abertis autopistas network New discounts for hauliers abertis autopistas TEXT AND PHOTOS abertis Since 1 June, haulage professionals have been able to benefit from the new exclusive discounts programme that abertis autopistas offers across its entire toll-road network. Under the name Truck Plan, the programme makes it possible to obtain monthly discounts of up to 13% from the first euro spent on journeys made anywhere along the abertis autopistas network. Thediscountswillrangefrom5%ofthe amountspent(forcustomerswithamonthly spendofunder300euros)to10%(between 300 and 600 euros per month) and 13% (monthly spend of over 600 euros).These sums will be added to expenditure on stays atTruck Parks, the areas reserved for heavy vehiclesavailableintheMontsenyandPorta Barcelona service areas on theAP-7. When it is implemented,the rate reduc- tionswillreplacethecurrentBonotacandTac- consum programmes for heavy vehicles and cover the whole of the abertis autopistas networkinSpain,exceptinaulesa(AP-71Leon- Astorga). Class 1 and 2 heavy vehicles (gross vehicle weight of 3.5 tonnes or more) with CUSTOMERS WITH HIGHER LEVELS OF EXPENDITURE CAN SIGN UP TO THE PREMIUM TRUCK PLAN AND GET 50% OFF ON STAYS AT TRUCK PARKS aVía-T e-toll device will be able to benefit from this discount programme.To sign up, it is necessary to register for the promotion at www.autopistas.com. Truck Plan discounts can accumulate with the frequent user discounts already availableforheavyvehiclesonsomesections of the abertis group’s toll roads in Spain. Premium Programme for major accounts Professional customers with higher levels of expenditure will also be able to sign up to the PremiumTruck Plan programme.This plan includes discounts of 50% at abertis autopistas Truck Parks and will also offer 50% off at selected hotels and Áreas and Autogrill service areas along the Group’s toll roads.
  40. 40. JULY 2013 LINK abertis 41 EXAMPLESOFSAVINGSWITHTHETRUCKPLAN HaulageprofessionalswhojointheTruckPlanwillbeabletoenjoymajorsavingsonabertis tollroadsinSpain,combiningthese discountswiththeonesthatalreadyexistintheGroup’stoll-roadnetwork.Caseswouldincludethefollowing: Route Frequency Monthlyexpenditure Reductionsand Discounts (notincludingdiscounts) accumulateddiscounts total Barcelona-LaJonquera Dailyreturntrip €1,142 -35%Maçanet-Jonquera -43% -13%TruckPlan GironaSud-L’Escala Dailyreturntrip €200 -50%Maçanet-Jonquera -67% Freeofcharge.Girona -5%TruckPlan LaJonquera-Valencia 8monthlyjourneys €722 -35%Maçanet-Jonquera -24% 10%regularuserdiscountbetween TarragonaandValencia -13%TruckPlan Zaragoza-Bilbao 4monthlyjourneys €530 -50%Zaragoza-Gallur -17% -10%TruckPlan Customers who regularly use the AP-6 toll road have been able to benefit, since 1 June, from a new discount programme of 15% for light vehicle drivers. Underthename‘Plan15’,thenew programmeoffersdiscountsto customerswhomakemorethan 20identicaltripspermonth,valid inbothdirections,ontheAP-6. The15%discountappliesfrom thefirsttripmade. This new discounts programme on the AP-6 complements other ones that exist on other roads in the abertis autopistas network, where regular use is also rewarded. The ‘Plan 15’ will award regular users of the AP-6
  41. 41. 42 LINK abertis JULY 2013 REPORT The international convention of corporate leaders is a reflection of the company’s international activity abertis holds 4th Global Gathering abertis TEXT AND PHOTOS abertis abertisheldits4thGlobalGathering in Barcelona on 6 and 7 June.This is the international convention for Group executives, which this year drew the com- pany’s top executives fromArgentina, Bra- zil,Chile,Spain,the US,France,Puerto Rico and the UK. The main aim of this global meeting is to share the Group‘s corporate strategy, focusedoninternationalexpansion,withall of the countries, and to report on the new management structure that was recently presented.Thisrestructuringhasentailedthe appointment of David Díaz as arteris CEO (Brazil), Luis Miguel de Pablo as managing director ofAutopistas Chile, and Carlos del Río as managing director of the Rest of the World (ROW) Concessions. The international executives’meeting that abertis held reflects the company’s THE CONVENTION REFLECTS THE COMPANY’S INCREASINGLY GREATER GEOGRAPHICAL DIVERSIFICATION THROUGH ITS BUSINESS AREAS increasingly greater geographic diversifica- tion through its different business areas. Globalmatters At this year’s event, organised around a number of panel discussions that took the form of round tables, there was the chance to share and discuss different perspectives coveredwithintheGrouponmajorcommon issues.They included the most important aspects of the new model to integrate busi- nesses/countries in the abertis group; the perspectives of toll roads on the European continent,withverymaturenetworksanda clearorientationtowardsamorecustomer- service focused model; the diversity of toll roadsontheAmericancontinentinlinewith eachcountry;newprospectsinthetelecom-
  42. 42. JULY 2013 LINK abertis 43 munications sector, always marked by the needforinvestmentandongoingandspeedy updates; and the role the corporation has playedandshouldplayintheGroup’sfuture, in a context of international expansion. abertis CEO Francisco Reynés shared with the attendees his general vision of the Group’sevolutionsincethelastmeetingand abroad-strokelookatthecompany’sfuture, as well as the tools it will be able to use to approach it. He particularly stressed the need for a determinedattitudewhichmakesitpossible to clearly mark the Group’s goals, ensure goodsupervisionandguidancetocheckthat the steps are carried through properly, and of evolving with motivation, commitment and responsibility. ABERTIS CEO FRANCISCO REYNÉS STRESSED THE NEED TO EVOLVE WITH MOTIVATION, COMMITMENT AND RESPONSIBILITY Previous page, left to right: Josep Ventosa, Tobías Martínez and Oriol Sitjà, marketing director, managing director and business director at abertis telecom, respectively; and Jordi Bosom, director of Business Strategy and Development at Hispasat. Above, group photo of the event.
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