The Sydney Morning Herald reports today that Macquarie Infrastructure Group (MIG) is banking on US markets to continue strong earnings growth.
MIG chief executive Stephen Allen said he expected double-digit growth in earnings before interest, tax, depreciation and amortization in the next year, largely from US investments.
"[The US] continues to emerge as the most interesting market for private toll-road operators and in the medium term, remains a place we will be able to generate returns for our security holders," Mr. Allen said.
A major deal on the immediate horizon for MIG is the SH 121, a 22 kilometer toll road to be built near Dallas in Texas. MIG and Macquarie Infrastructure Partners will learn whether they are successful bidders by the end of the month.
About MIG-
(wikipedia)
Macquarie Infrastructure Group is one of the world's largest developers and operators of private toll roads with a portfolio of 11 toll roads across seven countries including Australia. The Macquarie Infrastructure Group is listed separately on the ASX, but is managed by a wholly owned subsidiary of Macquarie Bank Limited. Stephen Allen is the Chief Executive Officer of MIG.
MIG has a 100% stake in the M6 Toll road in the UK, which was constructed to relieve congestion on the M6 motorway—one of the UK's busiest motorways.
Additionally, as part of a consortium MIG has taken over operations of the Indiana East-West Toll Road and the Chicago Skyway, both part of Interstate 90 in the United States; and by itself has a 100% interest in the Dulles Greenway and the greenfield South Bay Expressway, scheduled to open in mid-2007, also in the United States. MIG also has a 47.5% interest in the Westlink M7 to the west of Sydney in Australia, a 30% interest in the 108km-long 407 ETR in Toronto, Canada, and a 20.4% interest in the Autoroutes Paris-Rhin-Rhone motorway network covering some 2205km of north-eastern France.
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