On December 18th 1952, Rafael del Pino y Moreno founded Ferrovial in an attic in central Madrid. Our name derives from the Spanish word for railway, and our company originally focused on railway projects–created to execute a contract to mortise wooden rail ties for Renfe, the Spanish railway company. In 1958, Renfe awarded us the project to build the railway link between Las Rozas and Chamartín, in Madrid. We laid 18 miles of track in 30 days.

At the beginning of the decade, we had over 500 employees. Our company expanded into constructing waterworks, roads and buildings, and also moved into the toll road concession business. We diversified into a wide range of projects, all of which were highly complex in both engineering and financial terms.

Towards the end of the 1970s, during the recession caused by the oil crisis, we decided to explore opportunities in other countries. Our first international projects were concentrated in four countries: Libya, Mexico, Brazil and Paraguay.

We played a very important role in modernizing Spain and making it more European after it joined what was then called the European Economic Community. Our company was one of the key players in building the network of highways and accesses to the big cities, and in expanding and modernizing the ports, airports and railways, as well as building new schools and hospitals. During this time, we acquired Cadagua, a company specialized in designing, building and operating drinking water and sewage treatment plants.

In 1992, Rafael del Pino Calvo-Sotelo was appointed CEO of our company. With the acquisition of Agroman, now Ferrovial Construction, we positioned ourselves as one of Spain's largest construction companies. We also entered the North American market by obtaining the 407 ETR, a Canadian toll road, under a 99-year concession. Our company was floated on the stock exchange in 1999.

In 2000, Rafael del Pino Calvo-Sotelo was appointed Chairman of our company. We made important acquisitions during this decade including the Polish construction company Budimex, the services companies of Amey in the UK and Cespa in Spain, and the airport operator BAA, currently known as Heathrow Airport Holdings.

But one of the most important things that took place last year was the beginning of a strategic turn for the company, a change of course to transform Ferrovial into a more agile, more profitable and better positioned organization to face global challenges, such as climate change and urban congestion, and a pioneer of smarter and sustainable infrastructure that can offer solutions to society.