COPASA

What COPASA does

COPASA (S.A. de Obras y Servicios) is a privately held Spanish construction and infrastructure group founded in 1985 and headquartered in Ourense, with secondary management in Madrid. The company operates across six business areas: Construction (railways, roads/highways, hydraulic works, building, ports), Concessions (toll highways, parking, water treatment plants, service areas, education centers), Water and Waste Treatment, Services and Maintenance of Infrastructures, and Industrial Activity. It owns dedicated manufacturing capacity for railway sleepers, ballast, and rail welding in Spain and Saudi Arabia, and runs operations in 13+ countries including Spain, Brazil, Chile, Colombia, the US, Mexico, Peru, Uruguay, Saudi Arabia, Qatar, Poland, Romania, and Bulgaria. Revenue is generated primarily through competitive public tenders and PPP concessions for government clients, with recurring income from long-duration concessions (up to 20–30 years) and maintenance contracts, supplemented by industrial product sales of railway components.

The company's customer base is almost entirely public-sector—national ministries, regional and municipal governments, port authorities, railway operators, and water agencies such as Spain's Ministerio de Fomento, ADIF, ACUAES, Saudi Railway Organization, MTOP Uruguay, and Gobierno del Estado de São Paulo. Notable project references include the 239 km Mecca–Medina high-speed railway in Saudi Arabia, the 7.9 km Mario Covas ring road with TBM tunnels in São Paulo, the €463 million Ruta 14 highway PPP concession in Uruguay, the Punta Langosteira port in A Coruña, and a portfolio of hospital projects across Spain including the BIM-certified Centro de Protonterapia in Santiago de Compostela. The go-to-market is institutional bidding for large public works, often through UTEs (temporary business unions) with specialist partners such as Espina Obras Hidráulicas.

Underlying technology centers on heavy civil engineering: TBM and conventional tunneling, high-speed rail construction with in-house sleeper/ballast/welding production, large-scale water treatment (EDAR/ETAP) for populations above 1 million, and additive manufacturing for the CORAL biomimetic reef R&D project. COPASA was the first Spanish construction company to obtain AENOR BIM certification under ISO 19650, signaling digitization maturity in project asset information management. Subsidiaries include COPASA Inc. (USA), Caltia (Mexico), Luso Galaica de Traviesas (sleeper manufacturing), and PESA Medioambiente (water treatment technology).

Name

COPASA

Legal name

S.A. de Obras y Servicios, COPASA

Website

https://copasagroup.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

COPASA is a privately held Spanish construction and infrastructure group, founded in 1985, serving public-sector clients across 13+ countries in construction, concessions, water treatment, infrastructure maintenance, and railway-component manufacturing.

Ownership category

akta.pro rank

Headquarters

HQ city

Orense

HQ country

Spain

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Construction Contracts: COPASA generates primary revenue through competitive public and private construction contracts for infrastructure projects including roads, railways, airports, ports, and buildings. Revenue is project-based and earned as work progresses on long-term construction projects.
2. Concession Operations: The company operates concessions for toll highways (Autovía de Salnés, Autovía de Celanova, Autovía da Costa da Morte), parking facilities (over 2,000 spaces in Spain, Chile, Mexico), water treatment plants, service areas, and educational facilities. Concessions generate recurring revenue over 20-30 year contract periods.
3. Infrastructure Maintenance Services: COPASA provides ongoing maintenance services for infrastructure including railway high-speed lines, highways, water networks, and green spaces. Contracts include preventive and corrective maintenance for government clients.
4. Industrial Manufacturing: Manufacturing and supply of railway sleepers, ballast, and rail welding services. Production is sold directly to construction projects including the company's own projects and third-party railway construction companies.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

COPASA is a Spanish construction and infrastructure group that designs, finances, builds, operates, and maintains large-scale civil infrastructure for public and private clients. Its offerings span roads and highways, railways (including high-speed), ports, buildings (hospitals, stadiums, airports), water and wastewater treatment plants, long-term concessions (toll roads, parking, water plants), infrastructure maintenance, and industrial manufacturing of railway components (sleepers, ballast, welded rail).

Product overview

COPASA is a diversified infrastructure and services group operating across multiple business areas. The company offers a comprehensive portfolio organized into six main segments: Construction (covering railways, roads/highways, hydraulic works, building/construction, and ports), Concessions (highways, parking, water treatment plants, service areas, and education centers), Water and Waste Treatment, Services and Maintenance of Infrastructures, and Industrial Activity. The construction division handles major civil engineering projects including the high-speed railway between Mecca and Medina in Saudi Arabia. The concessions segment manages toll roads, parking facilities across Spain, Chile, and Mexico, and water treatment plant operations. Industrial Activity includes manufacturing of railway sleepers, ballast production, and rail welding operations. The company operates internationally with presence in Spain, Brazil, Chile, Mexico, Uruguay, Peru, Saudi Arabia, Qatar, Poland, Colombia, Bulgaria, and Romania.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction — Roads and Highways Design, financing, construction, operation, and maintenance of highways and expressways including tunnels, bridges, and viaducts; COPASA operates highway concessions including Autovía de Salnés, Autovía de Celanova, and Autovía da Costa da Morte.
• Construction — Railways Construction of railway infrastructure including platform and superstructure for conventional and high-speed lines, including sleeper manufacturing, ballast production, and rail welding for projects such as the 239 km Mecca–Medina high-speed line in Saudi Arabia.
• Construction — Building Building construction including schools, universities, libraries, theaters, auditoriums, hospitals and health centers, sports stadiums, airport terminals, and residential buildings, with projects completed in Mexico, Chile, Brazil, and Peru.
• Construction — Ports Port construction and maritime infrastructure including breakwaters, docks, and harbor works; notable projects include the New Port of Punta Langosteira in A Coruña and the expansion of Veracruz Port in Mexico (4,245 m breakwater).
• Water and Waste Treatment Comprehensive water cycle management including drinking water supply, sanitation, wastewater treatment, water catchment and potabilization, and final distribution, with operations spanning Spain and international markets including Bulgaria, Romania, Peru, Brazil, Morocco, and Algeria.
• Infrastructure Concessions Concession contracts for highways, parking facilities, water treatment plants, service areas, and educational centers; COPASA operates parking concessions in Spain, Chile, and Mexico with over 2,000 spaces, and water treatment plant concessions.
• Infrastructure Services and Maintenance Operation and maintenance of urban and environmental services including water cycle management, waste collection and urban cleaning, green area conservation, and maintenance of high-speed railway lines and national/regional road networks for government clients.
• Industrial Activity — Railway Component Manufacturing Industrial manufacturing of railway sleepers, ballast, and rail welding for railway supply, with operations in Carballino (Ourense, Spain) and Saudi Arabia serving the Mecca–Medina project; production is sold directly to construction projects and to third-party railway construction companies.
• CORAL — Additive Manufacturing of Biomimetic Artificial Reefs Nature-based innovation service/product using additive manufacturing (3D printing) to produce sustainable artificial reefs from recycled industrial waste with bio-inspired geometries adapted to seafloor geomorphology, aimed at coastal ecosystem restoration; developed under a public-private partnership with AIMEN and CETIM technology centers.

Quantifiable outcome

• Construction of 239 km of high-speed railway double track in Saudi Arabia (La Meca-Medina)
• +5 more outcomes

Named customers12 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Espina Obras HidráulicascoreStrategic or Co-development PartnerCOPASA formed a UTE (temporary business union) with Espina Obras Hidráulicas (20% stake) for the Uruguay Ruta 14 highway project. The partnership combines COPASA's construction expertise with Espina's hydraulic works specialization. The consortium won the contract with a near-perfect score of 996.3/1000.
• Caltia (Mexico subsidiary)coreStrategic or Co-development PartnerCOPASA operates through its Mexican subsidiary Caltia for local project execution, partnering with local firms like Dumac for specific contracts in Mexico.
• DumacminorStrategic or Co-development PartnerLocal Mexican construction partner working with COPASA subsidiary Caltia on highway projects in Sonora, Mexico.
• AIMEN (Centro Tecnológico)coreStrategic or Co-development PartnerResearch partner in the CORAL project focused on additive manufacturing of biomimetic artificial reefs. AIMEN contributes expertise in 3D printing of cementitious materials, life cycle analysis methodologies, and abiotic and biomimetic monitoring in water.
• CETIM (Centro Tecnológico)coreStrategic or Co-development PartnerResearch partner in the CORAL project contributing material formulation and 3D printing product development expertise for sustainable artificial reef manufacturing.
• CYEminorStrategic or Co-development PartnerSmall enterprise partner in the CORAL project responsible for quality control on construction work in the port domain.
• RECINORminorStrategic or Co-development PartnerMedium-sized partner in the CORAL project acting as supplier, conditioner, and manager of industrial waste for recycling into artificial reef materials.
• Proton therapy world leader companycoreTechnology or IntegrationCOPASA is constructing the Centro de Protonterapia in Santiago de Compostela in collaboration with the world leader in proton therapy. The project follows very strict technical criteria with a multidisciplinary team of engineers and architects specialized in cutting-edge healthcare infrastructure.
• PASSAVANT ESPAÑA / PESA MedioambientecoreStrategic or Co-development PartnerCOPASA acquired PASSAVANT ESPAÑA (now PESA Medioambiente), a technology company specialized in water treatment, strengthening COPASA's hydraulic engineering capabilities.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• VINCI: French global construction and concessions group encompassing VINCI Construction, Eurovia, and VINCI Concessions. Overlaps COPASA in roads, rail, water, and concessions, but at much greater scale and geographic breadth.

Direct peers

• Ferrovial: Spanish infrastructure group with construction, toll-road concessions (Cintra), and airports. Closest peer to COPASA's highway concessions plus construction mix, with a much larger international footprint.
• ACS Group: Madrid-based global infrastructure conglomerate with construction, concessions, and industrial services across transport, water, and energy. Highly comparable to COPASA in scope (roads, rail, ports, water) and Spanish origin, though at significantly larger scale.
• Acciona: Spanish infrastructure and renewable energy company with construction, water (Acciona Agua), concessions, and industrial activities. Directly overlaps COPASA's construction, water treatment, and concession portfolio across Iberian and international markets.
• Aldesa: Spanish construction group active in civil engineering, building, and industrial projects with international presence. Comparable mid-sized Spanish peer to COPASA in roads, rail, water, and energy infrastructure construction.
• OHLA (formerly OHL): Spanish construction and concessions group historically active in roads, rail, hospitals, and water. Directly comparable to COPASA in civil engineering scope and PPP-style concession approach, with similar size and Iberian roots.
• Sacyr: Spanish construction and infrastructure concessions group focused on toll roads, P3 concessions, and water. Comparable PPP-led model and Spanish LatAm footprint make Sacyr a near-direct peer for COPASA's concession-heavy strategy.
• Globalvia: Spanish-headquartered infrastructure concessions operator focused on toll roads, railways, and water. Highly comparable concession-led model to COPASA's Ruta 14 and parking/water concessions, though Globalvia is a pure concession platform.
• FCC (Fomento de Construcciones y Contratas): Spanish construction and environmental services group with significant water and infrastructure concessions. Comparable end-markets (water, urban services, transport infrastructure) and similar diversified infrastructure services profile to COPASA.
• Mota-Engil: Portuguese-origin construction and infrastructure group with a strong Latin American footprint (Brazil, Mexico, Colombia, Peru, Chile). Direct match to COPASA's Iberian-rooted, LatAm-focused construction and concessions strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/copasagroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about COPASA