The Transport Minister of the Gran Canaria Island Council, Teodoro Sosa, formerly of Nueva Canarias, could win his first service point this month due to the bus pass crisis that Vinci has stuck in the hands of users with less spending capacity. This is an issue inherited from the PSOE (Spanish Socialist Workers' Party) when Miguel Ángel Pérez del Pino was Transport Minister. But this is only one of the major issues on his plate: Cabify's ad eternum licenses in Gran Canaria, the arrival of Alsa in the transport sector to compete for Salcai's profitable routes, and taxi operational problems at Gran Canaria Airport. And with a Gran Canaria PSOE (Spanish Socialist Workers' Party) that continues to pressure the Gran Canaria Island Council to buy part of Salcai, which, incidentally, has such disorganized transport schedules at its stops, generating discontent among users and tourists on social media.
The most pressing issue in Sosa Monzón's office is transport passes. The Gran Canaria Island Council announced last weekend the opening of a disciplinary proceeding—more symbolic than effective—against the company responsible for paralyzing the island's public transport pass system. But what isn't being said out loud is who is behind it: the giant Vinci. While awaiting the formalization of a sanction, which is unlikely to upset the conglomerate, the underlying question remains: why hasn't the Island Council been more transparent in informing the provider and its contractual responsibilities? To what extent can global giants be trusted to manage essential public services at the local level?
The French multinational Vinci, considered the construction company with the largest market capitalization in the world (more than €44.500 billion), is the parent company of the Etra Group, the company awarded the contract for the bus voucher management system in Gran Canaria. Etra was acquired by Vinci in 2021 from ACS and, according to the Commercial Registry, had a turnover of €2022 million in 24, with a net profit of €8,1 million.
Etra is no upstart. Based in Valencia, this technology company has four decades of innovation in strategic sectors such as mobility, energy, security, and natural resources. Its credentials include managing more than 20.000 buses and 10.000 traffic light crossings in Europe and Latin America, in addition to leading the electrification of public transport.
However, in Gran Canaria, the situation is different. The contract signed with the Island Council is under scrutiny due to an alleged serious breach of contract. According to island government sources, the situation has "compromised the strategic mobility information system and its associated infrastructure," directly affecting the efficiency, quality, and safety of the public service.
The alleged inaction in technological supply has led to delays, user complaints, and a growing reputational cost for the public institutions involved. But it's not just a technical failure. This paralysis also represents a setback for the island's digitalization and ecological transition strategy, given that vouchers and their traceability are a key component of sustainable mobility.
Vinci is no ordinary supplier. The French consortium, which is also carrying out the controversial Chira-Soria reversible hydroelectric plant project with financing from the European Investment Bank, counts among its main shareholders The Children's Investment Fund (TCI)—which also holds the largest stake in Aena—BlackRock (4,94%), and Qatar Holding (3,7%). The Qatari presence reinforces Vinci's hybrid profile as a European company with Arab sovereign capital.
Vinci's international presence and strategic importance for France (whose construction sector has a turnover of $133.600 billion, second in the world after China) contrast with its performance on an island critically dependent on public transport. Vinci not only leads the construction sector in Europe but is currently the construction company with the highest market capitalization in the world, with over €44.500 billion, surpassing Asian competitors such as China State Construction Engineering Corporation (CSCEC)—the world leader in revenue, with $305.500 billion in 2022—and India's Larsen & Toubro, third in the global ranking in the sector.
