Section 4 of the I-69 project is almost completed from Evansville to Bloomington. Section 5 is about to start with a Spanish firm as the main contractor. Staff photo by David Snodgrass
Isolux Infrastructure Netherlands B.V. will build 21 miles of Interstate 69 from Bloomington to Martinsville. So who’s that, again?
The short answer is it’s part of a global conglomerate based in Spain that does everything from operating parking spaces to building power plants. The long answer is a little more interesting — and hopefully a little more satisfying.
First, let’s deal with the name. That mysterious B.V. stands for besloten vennootschap, which essentially means the company is a Dutch limited liability entity. It has a corporate seat at an Amsterdam address.
But the company is entirely owned by two groups located outside of the Netherlands. One of Canada’s largest pension investment managers, PSP Investments, owns about 19 percent thanks to a €500 million investment in 2012. And a Spanish company, Isolux Corsan, is the majority owner with the remaining 81 percent.
For all intents and purposes, Isolux Infrastructure is simply part of the Spanish company Isolux Corsan. It manages assets such as highways, power transmission lines and solar power plants. It’s a branch, a subsidiary.
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