at stake there are 1.3 trillion dollars 13/01/2021


Millions of people around the world will see the proclamation of Joe Biden, on January 20, as the new president of the United States. In their own way, so will the six large Spanish construction companies, with clear interests on the other side of the Atlantic. “If Joe Biden finally approves the infrastructure spending package, as the market expects, both ACS, Acciona and Ferrovial could benefit from it,” says Sergio Ávila, an analyst at IG. The same would happen with Sacyr, FCC and OHL.

And all because the new president of the United States plans to invest 1.3 trillion dollars in ten years. Of that amount, 300,000 million dollars will be destined to fix roads and bridges. For example, Ferrovial carries out maintenance of transportation infrastructure in different states such as Alaska, California, Colorado, Florida, Georgia, Michigan and Texas. In addition, it has infrastructures under management for a value that exceeds 10 billion dollars.

In the case of ACS, in the third quarter of 2020 it obtained five new projects worth 2.4 billion euros in the US. One of those projects was the construction of a new terminal at the San Diego Airport (California). And, in addition to roads and bridges, the new administration will dedicate its efforts to other types of infrastructures such as schools, institutional buildings, ports, airports or railways.

In this way, both ACS and Ferrovial, and the rest of the construction companies, would recover part of the ground lost during 2020. From January to September, its net profit was only 162 million euros, that is, 87% less than in the same period of 2019. In other words, more than 1,000 million euros have been left on the road. It should also be remembered that, as a whole, they had a fall in the Stock Market of 5,894.2 million euros. Amount that would have reached 7,150.4 million had it not been for Acciona. It was the only one whose capitalization grew by 1,256.2 million euros.


Almost four out of every ten euros of ACS, the group chaired by Florentino Pérez, come from the US. The fact that ACS and Ferrovial, along with the rest of the Spanish construction companies, did not take more advantage of the United States during the term of Donald Trump is due to the lack of agreement between Democrats and Republicans when defining the amount and scope of the investment . With the Democrats regaining the majority in both Congress and the Senate, that obstacle is set aside.

Acciona will also benefit from ACS and Ferrovial. Joe Biden wants his term to be defined by support for renewable energy. And there Acciona, together with Iberdrola, started with a good position on the starting grid given their good positioning.

The Democratic ‘blue wave’ wants to make the fight against climate change its watchword. Returning to the Paris Agreement is among his priorities. Hence, investing in solutions against climate change, the modernization of the entire electrical infrastructure, and the promotion of new energies to decarbonize the US are priorities for Joe Biden.

Despite the impact of the pandemic, the US economic forecasts have improved. Thus, the Federal Reserve has raised growth for GDP from 4% to 4.2% in 2021. And from 3% to 3.2% in 2022. The investment agenda in environment and construction will help to do so. Both ACS, Ferrovial, and the rest of the construction companies, can take advantage of it.

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