Concessions Annual Report 2001 Ferrovial is the world's largest private developer of transport infrastructure, with committed investments of more than €1.5 billion. Based on over 30 years’ experience in the field, business strategy is geared towards growth, and Ferrovial currently manages 15 toll roads, 11 airports and more than 165,000 parking spaces worldwide. Toll roads Competitive situation In  the  last  few  years,  private  companies  have  become  increasingly  involved  in  developing infrastructure  (primarily  transport)  due  basically  to  the  fact  that  governments  are  cutting budgets in an effort to reduce their deficits as well as to the positive experience of a number of countries such as the U.K., Portugal and Spain. Most  of  this  growth  is  in  OECD  countries,  particularly  Europe,  where  a  large  number  of countries   have   embarked   on   privately-financed   development   of   toll   roads,   on   an unprecedented scale in terms of both the number of projects and the amount of investments. Private   sector   initiatives   connected   with   transport   infrastructure   projects   (construction, financing and operation) are increasing. In the last few years they have found another outlet: the growing privatisation of concessionary companies. After Brisa (Portugal) and Autostrade (Italy),  the market has been boosted by the announcement of the potential privatisation of ENA (Spain) and ASF and other government-owned operators in France. In Spain, the award of the Radial 4 contract to a consortium headed by Ferrovial and Cintra completed  the  first  phase  of  the  toll  road  Infrastructure  Plan. The  implementation  of  the second phase will flood the market with a large number of projects in the next two or three years.The proposals included in the forthcoming Public Works Concessions Law will also boost the sector through the introduction of stricter legal controls in the concession system, more flexibility in financing, improved allocation of the risks associated with the projects, and greater weight attached to the operational phase. All these measures will enhance the international competitiveness of Spanish concessionary groups, currently amongst the largest in the world.