ACS wins 320-million-euro contract with New York subway

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Spain's largest construction group ACS Wednesday announced it had won a 447-million-dollar (320-million-euro) contract to build a station of the New York subway system.

ACS will "construct the 72nd Street station on the new line on Second Avenue in Manhattan," it said in a statement.

The contract was signed between New York's Metropolitan Transportation Authority and the US units of ACS, Dragados and Schiavone.

The construction is expected to last 37 months.

With this new project, "the ACS group continues to grow in the United States," it said, noting that two other transport contracts in New York.

ACS is currently in discussions to take a majority stake in German construction group Hochtief, of which it already holds 30 percent.

The Spanish company launched a takeover bid September 16, offering eight ACS shares for five of Hochtief's, Germany's largest public works group. The German firm has rejected the offer as being too low.

© 2010 AFP

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