Spanish builder ACS looks to raise stake in the mining industry

MADRID, Aug 14 (Reuters) – Spain’s largest infrastructure company ACS is considering increasing its presence in the mining sector given the industry’s solidity and its own capital allocation structure, executives told investors on Friday.

ACS said it hopes to increase its capital expenditure by buying mining assets, citing the market’s strong growth, especially in Australia.

The builder’s net profit fell 30.9% in the first half of this year, largely due to the pandemic’s negative impact on Abertis, a toll road operator it owns in partnership with Italy’s Atlantia, as transport and movement were restricted around the world. (Reporting by Clara-Laeila Laudette, Editing by Inti Landauro)

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