(Alliance News) - John Laing Group PLC on Tuesday said it has obtained all necessary approvals for the acquisition of a 30% stake in the Ruta del Cacao road project.
The infrastructure investor has taken a 30% share in the Colombian road project, which involves constructing 236 kilometres of road to connect the cities of Bucaramanga, Barrancabermeja, and Yondo in the north-eastern department of Santander. The payment for the stake was GBP62 million.
In addition, John Laing has invested GBP13 million to obtain a 35% interest in Canada's Hurontario Light Rail Transit PPP project. This project involves construction of an 18 kilometre line which will connect "municipalities in the Greater Toronto and Hamilton Area". This is intended to "improve connectivity" both inside and between both districts.
Thus far, John Laing's investment commitments to date stand at GBP157 million.
Shares in John Laing were down 0.2% at 364.40 pence in London on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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