Deals and M&As this week: Iteris, Astaldi, Volvo

Iteris has secured a $2.4m contract from OC-405 Partners for the integration and maintenance of technology for the I-405 Improvement Project in southern California.

Iteris will work on the design of Express Lane infrastructure and will deploy freeway intelligent transportation system (ITS). It will further develop traffic management plans and signaling design at 42 different sections on the corridor, as part of the contract.

The ITS infrastructure will be deployed temporarily during construction.

The $1.9bn I-405 Improvement project is intended to refurbish a 25.7km-long stretch on the I-405 between SR-73 freeway in Costa Mesa and I-605 in Los Angeles.

Maharashtra State Road Development (MSRDC) has awarded Rs69.94bn ($1.04bn) contract to the joint venture (JV) of Astaldi and Reliance Infrastructure for the development of Versova-Bandra Sea Link Project in Mumbai.

The JV will provide engineering, procurement and construction (EPC) services required for the project, as part of the contract.

The project involves the construction of a cable-stayed bridge and three variable bridge sections.

The 17.7km-long sea link will be located approximately 900m to 1,800m from the coast and will be three times longer than the Bandra-Worli Sea Link.

Construction of the sea link is expected to be completed within five years.

Sweden-based automotive manufacturing firm AB Volvo has secured gross proceeds of Skr300m ($34.02m) through the placement of bonds in a debt offering.

The bonds are expected to yield an interest rate of 0.42% a year until they mature on 7 May 2021.

American Roads AcquireCo, a subsidiary of DIF Infra 5 US, has agreed to acquire American Roads, a subsidiary of Pike Pointe Holdings, for $220m.

American Roads operates toll road facilities across the US and Canada.

Scheduled for completion in the third quarter of this year, the acquisition is subject to regulatory conditions.