Spanish giant ACS signs EUR 2.9 bn deal for Australia motorway

(MADRID) - Spanish building giant ACS said Friday it had signed a 2.9-billion-euro contract for the construction of a new highway in Australia.

The group "has signed a contract... for the design and construction of the new M5 highway in Sydney for 4.3 billion Australian dollars (2.9 billion euros/$3.2 billion)," it announced.

The deal is part of the mammoth WestConnex motorway project that aims to ease congestion in the Australian city, as passenger and freight traffic at the airport and Port Botany increases along with the general population.

ACS will build a "double tunnel" to increase road capacity between Sydney's financial centre, the port, airport and south-western areas of the city, as well as motorway junctions.