July 14, 2011

Isolux Corsán Reorganises its Concessions Business as a New Company: Isolux Infrastructure

MADRID, July 14, 2011 /PRNewswire/ --

        - The Investment in Isolux Infrastructure Projects Amounts to
          Some EUR7.5 bn.

Isolux Corsan is a major corporation in the concessions business
world-wide, operating in over 30 countries. Today it has announced a
reorganisation, concentrating this business in one new company. Isolux
Infrastructure thus starts operation with the mission of further increasing
the volume of business in this area. Over the last five years its EBITDA has
shown a compound annual growth of 70%, turning it into a mainstay of Isolux
Corsan's global performance.

The new Isolux Infrastructure will have a total capex for all the
projects in which it is involved, of approximately EUR7.5 bn. It is a truly
global platform for the management and operation of the Isolux Corsan
group's infrastructure projects in three key sectors:

Toll road concession. Isolux Corsan has over 1,600 kilometres under
concession agreements in countries such as India (710 km in four
concessions), Brazil (680 km), Mexico (155 km in two concessions) and Spain
(64 km).

T&D lines. The group operates and manages over 5,200 km of power lines
for transmission and distribution in Brazil (3,090 km in five concessions),
India (1,600 km) and the USA (605 km).

Photovoltaic solar power. The Group ranks as a leader in the solar PV
power-generation market. It has 42 PV power plants in operation with an
installed capacity of 168 MW and a generation capacity over 250 GW/h per
year of clean energy. The company also has a further 60 MW under
construction and a pipeline of 900 MW in southern Europe, Latin America,
India and the USA.

Isolux Infrastructure's geographical diversification enables it to
operate efficiently in emerging economies (India, Brazil, Mexico and Peru)
and in consolidated economies (USA, Italy, Spain). This combination between
developing and mature markets endows the new company with enormous
versatility, so that it can respond immediately to the latest market
conditions wherever they impact.

Its core businesses (power generation, power transport & distribution,
overland-road infrastructures) have exciting upside in both emerging and
consolidated economies. In the emerging economies, growth is essential to
bridge a long-standing accumulated gap against modern-day requirements. And
in the consolidated economies, growth is imperative in response to demand
for constant renewal of existing infrastructure.

Thus, the company's diversification over different kinds of economies
and different areas of business minimizes the risks that beset many projects
at times of crisis: firstly, because it is unlikely that the macroeconomic
factors will be the same in emerging and in developed economies, and
secondly, because business diversification give greater visibility for the
company's cash flows, especially when 70% of its revenues come from power
lines and PV generation, which are not subject to demand risk.

About Isolux Corsan

Isolux Corsan is a global benchmark in the construction, power,
concessions and industrial services industries. Operates in over 30
countries on four continents. Its core growth businesses are energy, toll
road and car park concessions, plus the construction of major infrastructure
projects. Isolux Corsan has 5,000 km of power lines in Brazil and the USA.
It operates and manages 42 solar PV plants. These have a total installed
capacity of 168 MW, and in 2010 generated 223 GWh of clean energy. The
company has 60 MW under construction, and a 900-MW pipeline in southern
Europe, Latin America, India and the USA. The groupo has 1,690 kilometers of
toll roads under concession in Brazil, India, Mexico and Spain, plus 21,000
parking spaces operated under its concessions in Spain. It also has
long-standing experience in the construction and maintenance of major
infrastructure projects: toll roads; railways; airports, civil-engineering,
hydraulic and maritime engineering works and residential and non-residential
buildings. In the power industry, Isolux Corsan is one of the largest
construction companies world-wide for EPC (engineering, procurement &
construction) projects in the photovoltaic sector, with over 267 MW under
operation in 2010. It is a key player amongst the largest companies involved
in building EPC power plants, with 1,500 MW under construction. It is also
involved in industrial processes, with turnkey projects in the oil & gas
industry and biofuel plants. In 2010, the company reported over EUR3.24 bn
in revenues, an EBITDA of EUR311m and a backlog of EUR30.18 billion.

SOURCE Isolux Corsan