Pinfra reports 23% progress in Aguascalientes Bypass

Pinfra reported that it has a physical progress of 23.17% in the construction of the Aguascalientes Bypass, in Mexico.

In October 2020, the construction of the Aguascalientes Bypass project began, which has a state section and a federal section that together total 45 km.

The total investment for this project will be 2,154 million pesos.

Based in Mexico City, Pinfra is one of the main companies in Mexico dedicated to the promotion, development, construction, financing and operation of infrastructure projects.

To date, the company has 22 concession titles, made up of 29 highways, two port terminals, a bridge operation contract and an electronic toll operation contract for the FONADIN motorway network.

In addition to the main business, Pinfra has two plants that produce asphalt mixtures, as well as a construction segment that is mainly focused on the administration and supervision of the construction and maintenance projects of the highways of the concession titles that the company has.

Pinfra

The company also reported that the first section of the Pirámides-Texcoco highway, which goes from Lechería to Acolman (4.8 km), is finished and in operation, the Average Daily Traffic for the first quarter of 2021 was 11,778.

In the remaining part to complete the 17 kms that the highway measures, the work progress is 99.6 percent.

The accumulated investment in this work is 2,996 million pesos.

Pinfra is currently in talks with the Federal Government and the Ministry of Communications and Transportation (SCT) to acquire the two remaining parcels to complete the acquisition of the land.

In this project, the release of the right of way is the obligation of the SCT.

Finance

In the first quarter of the current year, the company’s construction segment revenues increased by 63.3% compared to the same quarter of the previous year, to 415.4 million pesos, which represents 15% of the group’s total quarterly revenues.